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26 May, 06:10

You put $800 in a savings account. The account earns 4% simple interest per year.

a. What is the interest earned after 5 years?

The interest earned is $__ after 5 years.

b. What is the balance after 5 years?

The balance is $__ after 5 years.

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Answers (1)
  1. 26 May, 09:26
    0
    A. 160

    B. 960

    Step-by-step explanation:

    The interest earned after 5 years is the balance - the initial balance: 160

    The balance is 800 * (1 +.04*5) : 960
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