charltte charltte
  • 03-05-2021
  • Mathematics
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You deposit $100 in your bank account. The account earns 2% simple interest in 5 years. How much interest did you earn?

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TaMoriaS05
TaMoriaS05 TaMoriaS05
  • 04-05-2021

Answer: $200

Step-by-step explanation:

Simple Interest: I=prt

I=(principal)(rate/time)(time)

I=(100)(2/5)(5)

I= 200

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