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Jordan invested $1,000 in a savings account. The interest rate is 6% per year. Find the simple interest earned in 4 years. Then find the total of principal plus interest.

Jordan invested $1,000 in a savings account. The interest rate is 6% per year. Find the simple interest earned in 4 years. Then find the total of principal plus interest.
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Jordan invested $1,000 in a savings account. The interest rate is 6% per year. Find the simple interest earned in 4 years. Then find the total of principal plus interest.

User Julius F
by
8.2k points

1 Answer

6 votes

Answer:


Explanation:

SIMPLE INTEREST IS I=Prt

I=(1000)(.06)(4)

I=240

1000+240=1240


User Florent Champigny
by
8.3k points
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