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17 January, 12:31

Sergio dropped his new freestyle mixtape and invested $12,000 of his

earnings into a savings account that earns him 2.5% simple interest. How

much interest will he have earned at the end of 5 years? *

A$1,800

B$1,500

C$1,200

D$150

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Answers (1)
  1. 17 January, 14:16
    0
    B $1,500

    Step-by-step explanation:

    Interest is computed using the formula ...

    I = Prt

    where P is the principal invested, r is the annual rate, and t is the number of years.

    Using your numbers, we can find the interest as ...

    I = $12,000*0.025*5 = $1,500

    Sergio will have earned $1,500 in interest in 5 years.
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