If You Lend $3,500 to a Friend for 19 Months

question 23

Multiple Choice

If you lend $3,500 to a friend for 19 months at 8% annual simple interest, find the future value of loan. Round your answer to the nearest cent. ​

• A)$4,386.67
• B)$8,820.00
• C)$3,998.75
• D)$3,943.33
• E)$3,887.92

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Definitions:

Videoconferencing

is the use of telecommunication technologies to conduct live meetings, presentations, or discussions via the internet between two or more participants in different locations.

Group Conferences

denote meetings involving multiple participants, typically focusing on educational, social, or professional topics.

Sending Notes

The act of transmitting messages or information, typically in written form, from one person to another through various means including paper, electronic communication, or other channels.

Parent-Teacher Conferences

Meetings between parents and teachers to discuss a child's progress at school and find ways to support their educational journey.