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Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple interest formula, how much interest will Sharla’s initial investment earn over the 16 year period?
$297
$319
$352
$627

Respuesta :

Answer:

$352

Step-by-step explanation:

Simple interest (I) is calculated as

I = [tex]\frac{PRT}{100}[/tex]

where P is the principal ( investment), R is the rate of interest and T is time in years, thus

I = [tex]\frac{275(8)(16)}{100}[/tex] = $352

marcicaruso123

Answer:

$352

Step-by-step explanation: