Mary deposits 23000 on april 19 2015 in a bank account


Question: Mary deposits $23,000 on April 19, 2015 in a bank account earning simple interest at rate r and leaves it on deposit until September 15, 2015. If using ordinary interest, the interest earned during the investment period is $320. If, instead, the exact interest method is used with the same simple interest rate, r, what is the accumulated value on September 15, 2015?

(A) $23,324.44

(B) $23,320.00

(C) $23,318.43

(D) $23,315.62

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Mathematics: Mary deposits 23000 on april 19 2015 in a bank account
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