20ratliffms 20ratliffms

17-04-2020
Mathematics

contestada

HELP ME PLEASE ******* if you put 525$ into a savings account that paid a simple interest rate of 6.5% how much would your account be in 2 years? how much interest did you earn ?

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kenlingdad kenlingdad

17-04-2020

Answer:

account in 2 years: $593.25

interest earn: $68.25

Step-by-step explanation:

A = P(1 + rt) P: initial saving r: interest rate t: period

A = 525 ( 1 + 0.065 x 2) = 593.25

I: A - P = 593.25 - 525 = 68.25

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