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22 July, 09:33

Miss Lewis has $523.50 in her savings account. Her bank pays 5 3/4% if interest. If the interest is computed once per year, how much interest will she make in one year?

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  1. 22 July, 11:38
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    Interest She'll make in a year is $30.10125

    Step-by-step explanation:

    Interest = PRT : 100

    Principal = $523.50

    Rate = 5³/₄% = 5.75%

    Time = 1year

    Interest I = (523.50 * 5.75 * 1) : 100 = $30.10125

    Interest She'll make in a year is $30.10125
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