Find the amount that will be accumulated in the account under the given conditions.
-The principal $15,400 is accumulated with simple interest of 16% for 5 years.
A) $20,212.50
B) $27,720
C) $12,320
D) $15,892.80
Correct Answer:
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Q1: Use the formula A = P(1 +
Q2: Use I = Prt for simple interest
Q4: Solve the problem. Assume that simple interest
Q5: Use I = Prt for simple interest
Q6: Use I = Prt for simple interest
Q7: Convert the given interest rate to decimal
Q8: Provide an appropriate response.
-If you pay $5,500
Q9: Make the indicated conversion. Assume a 360-day
Q10: Solve the problem. Round dollar amounts to
Q11: Solve the problem. Round dollar amounts to
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