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Perry has $600 in a savings account. The interest rate is 5% per year and is not compounded. How much will he have in total in 3 years?

Perry has $600 in a savings account. The interest rate is 5% per year and is not compounded. How much will he have in total in 3 years?
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9 votes
perry has $600 in a savings account. The interest rate is 5% per year and is not compounded. How much will he have in total in 3 years?

User Swingline Rage
by
8.8k points

1 Answer

10 votes

Answer:

$90

Explanation:

use the I = Prt simple interest formula

perry has $600 in a savings account. The interest rate is 5% per year and is not compounded-example-1
User Merrillogic
by
8.6k points
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