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A savings account earns 4% annual simple interest. The principal is $1,100 .What interest did the account earn after 5 years?

A savings account earns 4% annual simple interest. The principal is $1,100 .What interest did the account earn after 5 years?
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A savings account earns 4% annual simple interest. The principal is $1,100 .What interest did the account earn after 5 years?

User Naresh
by
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1 Answer

6 votes

Answer:

$220

Explanation:

use the I = Prt simple interest formula

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