Lou Hinton's savings account (offering 12% simple interest)showed the following activity for the month of June:
Opening balance $2,000
6/10 Deposit 1,000
6/20 Withdrawal ( 800)6/30 Ending Balance 2,200
Interest earned in June with the LIFO method would be
A)$24.00.
B)$22.00.
C)$18.67.
D)$21.33.

Question

Quizplus · Accepted Answer

The Answer of Lou Hinton's savings account (offering 12% simple interest)showed the following activity for the month of June:
Opening balance $2,000
6/10 Deposit 1,000
6/20 Withdrawal ( 800)6/30 Ending Balance 2,200
Interest earned in June with the LIFO method would be
A)$24.00.
B)$22.00.
C)$18.67.
D)$21.33.

Lou Hinton's Savings Account (Offering 12% Simple Interest)showed the Following