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7 March, 12:47

Samuel has $550 dollars in his savings account. If his bank pays 1.25% annual simple interest and he makes no further withdraws or deposits, how much money will be in the account after 3 years?

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  1. 7 March, 16:11
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    P x R x T = Simple Interest

    550 x 0.0125 x 3 = SI

    SI = $20,625
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