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5 May, 00:54

Jessie deposited 2,500 into a saving account that pays 3% simple interest per year. How much interest does she earn per year on the investment

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  1. 5 May, 04:13
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    Answer: Interest per year is $75

    Step-by-step explanation:

    Simple interest is calculated by Principal x Rate x Time

    From the information given:

    Principal = $2500

    Rate = 3% = 3/100 = 0.03

    Time = 1 year

    Slot the values into the formula:

    Interest = 2500 x 0.03 x 1

    Interest = $75
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