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Bonnie invested $8000 for 6 years in a savings account paying simple interest with a yearly interest rate of 1.5%. How much simple interest did she earn? Show your work.
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Bonnie invested $8000 for 6 years in a savings account paying simple interest with a yearly interest rate of 1.5%. How much simple interest did she earn? Show your work.

User Jessica Lingmn
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2 Answers

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The amount of interest earned is $720.00. Simply multiply 8000 x .015 x 6.
User Mickey Shine
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Bonnie earned $720

you can turn a percentage into a decimal that you can multiply with by moving the decimal point 2 places to the left.

so 8,000 x 6 x 0.015 = 720
User Cherusker
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