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2.) A bank is offering 2.5 percen
simple interest on a savings
account. If you deposit $5,000,
how much interest will you have
earned in one year?

Respuesta :

sqdancefan

Answer:

  $125

Step-by-step explanation:

The simple interest earned is computed using the formula ...

  I = Prt

where P is the principal invested, r is the annual rate, and t is the number of years.

Filling in the given values, we find ...

  I = $5000(0.025)(1) = $125

The interest earned in one year is $125.

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