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16 September, 13:21

You deposit $70 in a savings account that pays an annual interest rate of 30%. How much simple interest would you earn in 2.5 years?

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  1. 16 September, 14:18
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    The formula is

    I=prt

    I interest earned?

    P principle 70

    R interest rate 0.3

    T time 2.5 years

    I=70*0.3*2.5

    I=52.5
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