Mr. and Mrs. Steele deposited $8,000 to open a college

Last updated: 7/20/2022

Mr. and Mrs. Steele deposited $8,000 to open a college savings account for their granddaughter on the day she was born. The account pays 5% simple interest annually. If they made no other deposits or withdrawals since then, how much money would be in the account after 18 years? A $7,200 B $8,000 C $15,200 D $19,253