Cody has $700 in a savings account that pays 4% interest. what is the amount of simple interest he will learn in 2 years
Answer:
The interest Cody gets in 2 years be $56 .
Step-by-step explanation:
Formula
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As given
Cody has $700 in a savings account that pays 4% interest .
Principle = $700
Interest = 4%
Time = 2 years
Put in the formula
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Simple interest = $ 56
Therefore the interest Cody gets in 2 years be $56 .