.Devante paid a security deposit of $525 when he signed the lease for his apartment. The money was put into an account earning 2% simple annual interest. After renting for 8 years, Devante got his deposit back. What was the payout balance?

A) $441
B) $532
C) $595
D) $609

Question

.Devante paid a security deposit of $525 when he signed the lease for his apartment. The money was put into an account earning 2% simple annual interest. After renting for 8 years, Devante got his deposit back. What was the payout balance? 

A) $441
 B) $532
 C) $595
 D) $609

anonymous · Answer

I=PRT rachell, then add interest to principle

anonymous · Answer

525(1+.02)^8=609

anonymous · Answer

the answer is 615 but best choice is 609