350 at 5% for 4 years what is it simple interest to the nearest cent

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asked Jun 5, 2017 41.1k views

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Voonic · Answer 1 · 2017-06-10T01:40:19+0000

I'm assuming the interest is 5% each year in which case so using the equation A=P(1+rt) and substituting in the values given you have A=350(1+.05(4)) which is $420.00

350 at 5% for 4 years what is it simple interest to the nearest cent

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