Question

Mr. Harold invested $1,600 in an account

that paid him 3.25% simple interest. What
will be the balance of his account after
32 years, including interest?
A) $1,664.00
C) $16,640.00
B) $1,536.00
D) $3,264.00

Answer 1

D) $3,264.00

Explanation:

I = Prt

I = $1600 × 0.0325 × 32 = $1664

total = $1600 + $1664 = $3264