bestsongever123 bestsongever123

02-08-2017
Mathematics

contestada

You deposit $70 in a savings account that pays an annual interest rate
of 3%. How much simple interest would you earn in 2.5 years?

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WimpyNate WimpyNate

02-08-2017

You would earn $4.2, since every year you can get $2.1 for interest, because $70*0.03. Also, the interest only can be count as two years because its annually, so the 0.5 year can't count.

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