sharla invests $275 in a simple interest - bearing account for 16 years. the annual interest rate is 8%…

sharla invests $275 in a simple interest - bearing account for 16 years. the annual interest rate is 8%. using the simple interest formula, $i = prt$, how much interest will sharlas initial investment earn over the 16 - year period?\n$297\n$319\n$352\n$627

sharla invests $275 in a simple interest - bearing account for 16 years. the annual interest rate is 8%. using the simple interest formula, $i = prt$, how much interest will sharlas initial investment earn over the 16 - year period?\n$297\n$319\n$352\n$627

Answer

Answer:

C. $352

Explanation:

Step1: Identify values

$P = 275$, $r=0.08$, $t = 16$

Step2: Apply simple - interest formula

$I=P\times r\times t$ $I = 275\times0.08\times16$

Step3: Calculate the result

$I=275\times1.28 = 352$