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7 February, 20:00

How much would Adam have to deposit in a savings account to earn $100 in interest over 4 years at a 5% simple annual interest rate?

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  1. 7 February, 21:18
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    100 = P * 0.05 * 4

    100 = P * 0.2

    100/0.2 = P

    500 = P
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