Question

Diego puts $500 in a savings account the day his granddaughter is born. He plans to give her all of the money in the account, including the simple interest earned, on her 18th birthday. If the account earns 6.5% simple interest per year, how much money will Diego give his granddaughter?
$681
$734
$1,085
$1,385

Answer 1

0.065*500*18 = 585
500+585 = 1085