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8 August, 14:33

Marsha deposited $6000 into a savings account five years ago the simple interest rate is 2% how much money did Marsha earning interest what would be her new account balance

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  1. 8 August, 17:33
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    Step-by-step explanation:

    The formula for determining simple interest is expressed as

    I = PRT/100

    Where

    I represents interest paid on the loan.

    P represents the principal or amount of money deposited.

    R represents interest rate

    T represents the duration in years.

    From the information given,

    P = 6000

    R = 2%

    T = 5 years

    I = (6000 * 2 * 5) / 100 = $600,

    Therefore, her new account balance would be

    6000 + 600 = $6600
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