Question

WILL AWARD MEDAL
Levi deposited $2,918.33 in a savings account that earns 3.4% simple interest. What will Levi’s account balance be in 7 months?

Answer 1

$2,976.21

$2,918.33

$3,612.89

$3,017.55

Answer 2

@jim_thompson5910

Answer 3

Use the formula

FV = PV*(1+r*t)

where,

PV = present value (amount you have right now)
FV = future value (amount you will have in the future)
r = interest rate in decimal form
t = time in years (make sure you convert from months to years)