Answer:
b.$34,320
Explanation:
Ordinary interest ; Use simple interest formula to fins amount
Amount (A) = Simple interest +Principal , and
Simple interest (S.I) = Principal * rate *time i.e. P*r*t
Principal = $33,000
rate = 6%
time in years = 8/12 note: 8 months, counted from May 17 to Jan 16)
Amount = [33,000*0.06 *[tex]\frac{8}{12}[/tex] ]+ 33,000
A = 1,320 + 33,000
A = 34,320
Therefore, the maturity value would be $34,320
