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How much interest is earned on a principal of 646 invested at an interest rate of 5 for two years

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4 votes

Final answer:

The interest earned on a principal of $646 invested at an interest rate of 5% for two years is $64.60.

Step-by-step explanation:

To calculate the amount of interest earned on a principal of $646 invested at an interest rate of 5% for two years, we can use the formula for simple interest:

Interest = Principal × Rate × Time

Plugging in the values, we get:

Interest = $646 × 0.05 × 2 = $64.60

Therefore, the interest earned on the principal is $64.60.

User Abdul Haseeb
by
8.1k points
1 vote

Answer:

Step-by-step explanation:

P=646

R=5%

T=2yrs

I=?

I=PRT/100

I= 646*5*2/100

I= 64.6

User Brian Rosner
by
8.6k points

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