Question

Gerold invested $114 in an account that pays 7 percent simple interest. How much money will...

Gerold invested $114 in an account that pays 7 percent simple interest. How much money will he have at the end of 4 years?

$137.94

$134.52

$145.92

$151.76

$138.62

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Homework Answers

Answer #1

Calculation of Simple Interest

Interest, No of years, Rate of Interest

Simple Interest = 31.92

Money with Gerold at the end of 4 years = Principal amount + Interest

In the question, 3rd option is the correct answer.

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