Kerri deposited $8,500 in her saving account 12 years ago, locking in an interest rate of 8% per year.
If she made no additional deposits or withdrawals in that time period, how much money would
Andrea have in her savings account after the 12 years?
A. $8,160
B. $8,500
C. $16,660
D. $90,100
Please show work

$16,660

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 8%/100 = 0.08 per year.

Solving our equation:

A = 8500(1 + (0.08 × 12)) = 16660

A = $16,660.00

The total amount accrued, principal plus interest, from simple interest on a principal of $8,500.00 at a rate of 8% per year for 12 years is $16,660.00.

(i hope i helped)

true

step-by-step explanation:

hey there!

if she's saving for six months, let's divide the total number we need for the trip by six, dividing it into the amount that needs to be saved for each month.

500 ÷ 6 =

she needs to save at least this amount each month, so we should use this symbol: ≥

let x be the amount she saves each month.

your final answer is x ≥

hope this !