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5 August, 14:45

Find the simple interest earned by each account. $1,200 principal at 5.5% interest for 25 years

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  1. 5 August, 17:20
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    The simple interest is $1650

    Step-by-step explanation:

    Simple Interest = PRT/100

    where p = principal, r = rate and t = time

    p = $1200, r = 5.5%, and t = 25 years

    SI = (1200*5.5*25) / 100

    SI = 12*5.5*25

    SI = $1650
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