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Lorraine invested $5500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she earn?
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Lorraine invested $5500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she earn?

User Nareille
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2 Answers

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A formula for this is I=prt, your "i" is the interest so the way to set this up would be 5500=6%r9 you would multiple 6&9 then you should get 5500=54r. divide 54 and 5500 that should turn out to be 101. 85, rounded of course. Hope that helped.
User Bcoughlan
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1 vote

Answer: $2970

Step-by-step explanation: took the quiz

User Humpy
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