Find the Simple Interest on a $3,000 Investment Made for 10

question 63

Multiple Choice

Find the simple interest on a $3,000 investment made for 10 years at an interest rate of 5% per year. What is the future value ?

• A)The simple interest is $1,520, the future value is $4,520.
• B) The simple interest is $1,520, the future value is $4,480.
• C) The simple interest is $1,500, the future value is $4,500.
• D) The simple interest is $1,530, the future value is $4,530.
• E) The simple interest is $1,490, the future value is $4,520.

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