Jamie deposits $200 in an account at his bank the simple interest rate is 8% how much interest will he learn in 3 years

Msv asked Oct 22, 2023

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Msv asked Oct 22, 2023

by Msv

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12 votes

Jamie deposits $200 in an account at his bank

the simple interest rate = 8 %

So, the interest = 8% of 200 = 0.08 * 200 = $16

so, after 3 years, he will earn = 3 * 16 = $48

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