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Carmen deposits $2000 into an account that pays simple interest at a rate of 3% per year. how much interest will she be paid in the first 2 years?

Carmen deposits $2000 into an account that pays simple interest at a rate of 3% per year. how much interest will she be paid in the first 2 years?
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Carmen deposits $2000 into an account that pays simple interest at a rate of 3% per year. how much interest will she be paid in the first 2 years?

User Chatu
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1 Answer

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Sn=So(1+p/100*2)

2000*(1+3/100*2)=2000(1+3/50)=2000*53/50=40*53=2120$

My answer:2120$
User Rer
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