Elizabatha235 Elizabatha235

30-03-2022
Mathematics

contestada

Maria invests $18,000 at 8% simple interest for 33 years.
Round your answers to the nearest cent.

How much interest is earned over the 33 year period?
$__
How much is in the account at the end of the 33 year period?
$_

Respuesta :

Genevieve7Star Genevieve7Star

30-03-2022

Answer:

interest earned = $3,960

total amount = $21, 960

Step-by-step explanation:

Simple interest = Principle amount × Rate × Time.

Simple interest = $18,000 × 8 / 100 × 33 / 12

interest earned = $3,960

total amount = $18,000 + $3,960 = $21, 960

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