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15 December, 11:58

If you put $6.57 into a savings account that earns 4%, how much interest

will you receive at the end of eight years?

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Answers (1)
  1. 15 December, 12:16
    0
    The interest for 8 years is $2.10

    Step-by-step explanation:

    Principal amount (p) = $6.57

    Rate of interest (r) = 4%

    Time (t) = 8 years

    Interest = (p x r x t) / 100

    = (6.57 x 4 x 8) / 100

    = 210.24/100

    = 2.10

    The interest for 8 years is $2.10
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