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Antonia has $2,000 earning 3% simple interest in her bank account. Use the formula I = prt where I is the interest earned, p is the principal amount, r is the interest rate, and t is the amount of time the money is in the account to calculate the amount of interest that Antonia will earn after 4 years. Round to the nearest penny if necessary.

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Answer:

$240

Explanation:

i = prt

i = $2,000 x 0.03 x 4

i = $240

The amount of interest Antonia will earn in 4 years is $240.

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