Question

Titus deposited $1,508.49 in a savings account that earns 4.2% simple interest. What will Titus’s account balance be in 8 months?

Answer 1

1542.09

Answer 2

8 month will be 4.2*(8/12.0) = 2.8, so balance will be $1508.49*1.028 = $1550.72772

Answer 3

$1,516.41 because simple intrest is over a year so you would take 4 divided by 4.2 to get .525 then you would take .525 times 1,508.49 to get 7.91 then you would add that to 1,508.49

Answer 4

4223.772