Question 19 • [PERFIN] Personal Finance, Sem 2 (26-27)
Ricky saves $103.19 each month for one year, so he saves 12 × $103.19 = $1,238.28. For the next two years, simple interest adds $1,238.28 × 0.031 × 2 = $76.77. The total is $1,315.05, which rounds to the listed choice of $1,315.06 (choice C).
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