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25 January, 11:20

Steve opens a bank account with a simple annual interest rate of 5%. After four year, how much interest will Steve earn on an initial deposit of $800?

$160

$140

$60

$40

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Answers (1)
  1. 25 January, 12:03
    0
    I = prt

    Plug in the values

    I = 800 * 0.05 * 4

    I = 160

    After four years, Steve will earn $160 on an initial deposit of $800
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