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An account earns simple interest. $1675 at 4.6% for 4 years a. Find the interest earned. $___ b. Find the balance of the account. $___

User Sealabr
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1 Answer

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A. First, divide 1675 by 100 to find 1% of it.
1675 / 100 = 16.75
Then, multiply 16.75 by 4.6 to get 4.6%.
16.75 x 4.6 = 77.05
77.05 is the interest for one year.
Multiply it by 4 to get the interest for 4 years.
77.05 x 4 = 308.20
The interest earned is $308.20.

B. Add the interest to the original balance to get the total.
308.20 + 1675 = 1983.20
The balance of the account is $1983.20 after 4 years.

Hope this help!
User Murali Suriar
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