Attempt following question by selecting a choice to answer.
e
Find the balance at the end of 4 years if
$8000 is deposited at the rate of
212% simple interest.
cccc eeeeA.
e$8810
B.
e$8800
C.
e$8805
D.
eNone of the above
ee
B
Step 1: Interest = p × r × t[Use the simple interest formula.]
Step 2: [Substitute 5200 for 212%.]= 8000 × 5200 × 4
Step 3: [Simplify.]= $800
Step 4: Balance = Interest + Principal
Step 5: [Substitute the values and simplify.]= $800 + $8000 = $8800