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john221 john221
  • 20-12-2016
  • Mathematics
Answered

How much simple interest is earned on investment of $1250 if the money is invested for five years at an annual interest rate of 4.5%

Verified Answer :

LexiFin13
LexiFin13 LexiFin13
  • 20-12-2016

Interest = Principle x rate x Time divided by 100

Interest = 1250 x 4.5 x 5 / 100 = 281.25

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