If Thurston deposited $8400 into a savings account that earns 2.5% simple
interest each year calculated annually. What is the future value of Thurston's account after 14 years will be is C. $11,340
Using this formula
Future value=Principal+[(Principal ×Rate ×Time)÷100]
Where:
Principal=$8,400
Rate=2.5%
Time=14 years
Let plug in the formula
Future valve=$8,400+[($8,400×2.5%×14)÷100]
Future valve=$8,400+($294,000÷100)
Future valve=$8,400+$2,940
Future valve=$11,340
Inconclusion if Thurston deposited $8400 into a savings account that earns 2.5% simple interest each year calculated annually. What is the future value of Thurston's account after 14 years will be is C. $11,340
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