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18 October, 13:56

Find the simple interest earned in a savings account that pays 5% interest if $500 is deposited for 4 years.

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  1. 18 October, 14:44
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    Answer:; Simple interest (I) = $100.0

    Step-by-step explanation:

    Simple interest (I)

    I = P x R x T

    P = principal, R = rate and T = time

    I = 500 x 5 x 4/100

    I = 10,000/100

    I = $100.0
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