darianbrown00
Answered

If $50,000 is invested at a simple interest rate of 8 percent, what is the net amount payable at the end of five years?
A.
$70,000
B.
$50,000
C.
$60,000
D.
$80,000
E.
$90,000

Answer :

Answer:

A - 70,000

Explanation:

Simple interest rate means that same amount of interest will be earned on the original amount invested, ie 50,000.

So, interest for one year is  50,000 * 8% = 4,000. So for 5 years, total interest will be 20,000 (4,000 * 5 years). Hence total amount is $ 50,000 + $20,000 = $70,000.

marandaleann728

Answer:

A. $70,000

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