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2 July, 03:22

On a deposit of $50 at a simple interest rate of 9%, how much interest will you earn after 12 years?

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  1. 2 July, 05:46
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    Answer: $54.00

    Step-by-step explanation:

    I = Prt

    I is interest earned: unknown

    P is the principal (amount you invested) : 50

    r is the rate: 9% = 0.09

    t is the length of time: 12

    I = 50 (0.09) (12)

    = 50 (1.08)

    = 54.00
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