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What will be the simple interest earned by investing $1,500 for 5 years, at an interest rate of 10% annuallly?
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What will be the simple interest earned by investing $1,500 for 5 years, at an interest rate of 10% annuallly?

User QuickPrototype
by
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1 Answer

5 votes

$750

The formula to calculate simple interest is Interest = Principal x Rate x Time.

Interest = 1,500 x 5 x .1

Interest = $750

User Melon NG
by
7.9k points
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