Question 35 • (Kapuschinsky)WCA 3424 Consumer Applications 1st nine weeks 26-27
Use the simple interest formula, interest = principal × rate × time. The investments earn $360 for choice a, $312 for choice b, $384 for choice c, and $278.40 for choice d. Choice c, $1,600 invested for 8 years at 3.0%, earns the greatest amount: $384.
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