Answer:
Mickeys account balance after 16 years is:
$ 1320.20
Step-by-step explanation:
Mikey deposited $782.11 in a savings account that earns 4.3% simple interest for 16 years.
Interest= [tex]\dfrac{P\times r\times t}{100}[/tex]
where P is principal amount
r is interest rate and t is time
Interest= [tex]\dfrac{782.11\times 4.3\times 16}{100}[/tex]
= $ 538.09
Amount in account after 16 years= $(782.11+ 538.09)
= $ 1320.20
