2. Bob invests $7,400 into a simple interest account paying 5.8% interest for a time period of 12 years. How much money does Bob have in this account at the end of the time period? A. $12,550.40 B. $12,560.40 C. $12,570.40 D. $12,580.40
Added by Brian W.
Step 1
Interest = Principal x Rate x Time Interest = $7,400 x 0.058 x 12 Interest = $7,400 x 0.696 Interest = $5,144 Show more…
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