16 is correct
and so is negitive 8
Answer:$1304.89
Step-by-step explanation:
P(1 + r/n)^r*t
500 ( 1 + 0.08/52) ∧ 52*12
500 (1.00154)^624
500 ( 2.61)
1304.88523
Answer:
Simple Interest = $315
Step-by-step explanation:
The formula for Simple Interest
I = P× R × T
I=interest, p=principal, r=rate, t=time
P = $1750
R = 12% = 0.12
T = 1.5 years
I = $1750 × 0.12 × 1.5
I = $315