Lou Hinton’s savings account (offering 12% simple interest) showed the

Lou Hinton’s savings account (offering 12% simple interest) showed the following activity for the month of June:

Opening balance $2,000
6/10 Deposit 1,000
6/20 Withdrawal ( 800)
6/30 Ending Balance 2,200

Interest earned in June with the minimum balance method would be
A)

$20.00.
B)

$22.00.
C)

$30.00.
D)

unknown.

ANSWER

A