Marvin currently has a balance of $1192 in an account he has held for 14 years. he opened the account with an initial deposit of $800. what is the simple interest on the account?
a. 2.3%
b. 3.5%
c. 7.1%
d. 10.6%

Option B. 3.5%

Step-by-step explanation:

Marvin currently has a balance of $1192 in his account. He opened the account with an initial amount of $800.

Duration for which the amount was held = 14 years

we have to calculate the rate of interest

Since Simple interest =

Interest = Final amount - initial amount

Interest = 1192 - 800

             = $392

Now we plug these values in the formula

392 =

392 =

R =

   = 3.5%

Option B is the answer.

2^y = ln 5, or   y(ln 2) = ln 5.   solving for y,   y = (ln 5) / (ln 2).   y=5

step-by-step explanation:

step-by-step explanation: