## Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple interest formula, I

Question

Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple interest formula, I = P r t, how much interest will Sharla’s initial investment earn over the 16 year period?

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2021-10-18T11:12:42+00:00
2021-10-18T11:12:42+00:00 1 Answer
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## Answers ( )

Answer:Step-by-step explanation:P = $ 275

r = 8% = 8/100

t = 16 years

I =$352