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23 February, 09:11

You put $400 in a savings account. The account earns 2% simple interest per year. a. What is the interest earned after 6 years? What is the balance after 6 years?

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  1. 23 February, 09:24
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    Interest earned=principle*interest rate*time

    Interest earned=400*0.02*6=48

    Balance=principle+interest earned

    Balance=400+48=448
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