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Ninabmth
Ninabmth Ninabmth
  • 17-03-2016
  • Mathematics
Answered

Ellie has $30 in a savings account that earns 7% interest. How much will she have in total in 5 years? A.$10.50 B.$1050 C. $40.50 D. $32.50

Verified Answer :

olemakpadu
olemakpadu olemakpadu
  • 17-03-2016

Assuming simple interest.

Simple Interest =  PRT/100

Simple Interest  =  30 7 5 /100 =  10.50

Simple Interest = $10.50

Amount = Principal + Interest = $30 + $10.50 = $40.50

(C)

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