You deposit $70 in a savings account that pays an annual interest rate of 30%. How much simple interest would you earn in 2.5 years?

asked Jul 24, 2018 94.4k views

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2 votes

The formula is
I=prt
I interest earned?
P principle 70
R interest rate 0.3
T time 2.5 years
I=70×0.3×2.5
I=52.5

Sabeer answered Jul 29, 2018

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