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A savings account earns 4% annual simple interest. The principal is $1,100. what interest did the account earn after 6 months?
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A savings account earns 4% annual simple interest. The principal is $1,100. what interest did the account earn after 6 months?

User Muetzerich
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1 Answer

11 votes

Answer:

$22 after 6 months

Explanation:

use the I = Prt simple interest formula

t is time in years,, so make sure to convert the 6 months into 0.5 years in your work.

A savings account earns 4% annual simple interest. The principal is $1,100. what interest-example-1
User Yessy
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