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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Definitions:

Cash Dividend Payments

Cash dividend payments are distributions of a company's earnings to its shareholders as decided by the company's board of directors.

Income From Operations

Income from operations is a measure of the profitability of a company's core business activities, excluding non-operating income and expenses.

Supplemental Cash Flows

These are disclosures in financial reporting that provide additional information about a company's cash flow activities that are not included in the standard cash flow statement.