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Valentina invested 6500 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

User Evana
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2 Answers

5 votes
In order to find that all you do is multiply 6,500*.04*7
And the simple interest is $1,820
User Jan Kuiken
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8.8k points
5 votes

Answer: She earned $ 1820 simple interest.

Explanation:

Here, the principal amount, P = $ 6500,

Annual rate of interest, r = 4 %,

Time, t = 7 years,

Thus the simple interest earned in this amount,


S.I.=(P* r* t)/(100)


=(6500* 4* 7)/(100)


=(182000)/(100)=1820

Thus, she earned $ 1820 simple interest.

User Thanos Markou
by
8.6k points
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