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namira16
24.04.2020 •
Mathematics
A $1,000 deposit for 20 years earns simple interest of 4%, how much interest has the account earned? *
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Ответ:
$800
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned:
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time (years)
First, change 4% into its decimal form:
4% ->
-> 0.04
Now, lets plug in the values into the equation:
The interest earned after 20 years is $800
Ответ: