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17 December, 20:13

Calculate the interest would I earn on $500 at 6% simple interest if you made no withdrawals or deposits for three years

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  1. 17 December, 21:14
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    I = PRT

    I = 500 (0.06) (3)

    I = 30 (3)

    I = $90

    I = Interest P = Principle R = Rate Of Interest T = Time (Years)

    You will earn $90 in simple interest.
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