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Find the Simple Interest on a $20,600 Investment Made for 6

Question 66

Multiple Choice

Find the simple interest on a $20,600 investment made for 6 months at an interest rate of 8% per year. What is the future value Round your answer to the nearest ten.


A) The simple interest is $800, the future value is $21,440.
B) The simple interest is $800, the future value is $21,450.
C) The simple interest is $840, the future value is $21,440.
D) The simple interest is $820, the future value is $21,420.
E) The simple interest is $840, the future value is $21,410.

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