Harlie invests $325 in an account that pays 8% simple interest for 15 years. Use the simple interest formula, I = P ∙ r ∙ t, to answer the following questions. How much interest will Charlie’s initial investment earn over the 15-year period? How much money does Charlie have after the 15 years?

$390 is the interest will Charlie’s initial investment earn over the 15-year period. The money does Charlie have after the 15 years is $715.

Step-by-step explanation:

Harlie invests $325 in an account.

The formula to find the interest will Charlie’s initial investment earn over the 15-year period :

⇒

⇒

⇒

Therefore, $390 is the interest will Charlie’s initial investment earn over the 15-year period.

Money Charlie has after 15 years :

It is given by the formula,

⇒ Amount = Principal + Interest.

⇒ 325 + 390

⇒ 715 dollars.

∴ The money does Charlie have after the 15 years is $715.

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