Travis invested $8,000 in an account that pays 4 percent simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?
A) $291.41
B) $287.45
C) $302.16
D) $266.67
E) $258.09

Question

Travis invested $8,000 in an account that pays 4 percent simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?
A) $291.41
B) $287.45 
C) $302.16
D) $266.67
E) $258.09

Quizplus · Accepted Answer

The Answer of Travis invested $8,000 in an account that pays 4 percent simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?
A) $291.41
B) $287.45 
C) $302.16
D) $266.67
E) $258.09

Travis Invested $8,000 in an Account That Pays 4 Percent