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Find the Simple Interest for the Period Indicated

Question 37

Multiple Choice

Find the simple interest for the period indicated. Then use table values to find the compound interest. Finally, find the
difference between compound interest and simple interest. Round to the nearest cent. (Interest is compounded
annually.) Find the simple interest for the period indicated. Then use table values to find the compound interest. Finally, find the difference between compound interest and simple interest. Round to the nearest cent. (Interest is compounded annually.) -Principal: $790 Rate: 6% Years: 16 A) $458.48 B) $392.28 C) $490.08 D) $1,248.48
-Principal: $790 Rate: 6% Years: 16


A) $458.48
B) $392.28
C) $490.08
D) $1,248.48

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