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gabelix gabelix
  • 27-04-2016
  • Mathematics
Answered

Samuel has $550 dollars in his savings account. If his bank pays 1.25% annual simple interest and he makes no further withdraws or deposits, how much money will be in the account after 3 years ?

Verified Answer :

LizD
LizD LizD
  • 27-04-2016

P x R x T = Simple Interest
550 x 0.0125 x 3 = SI
SI = $20,625

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