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A bank is offering 2.5% simple interest on a savings account. If you deposit $5000, how much interest will you earn in one year?
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A bank is offering 2.5% simple interest on a savings account. If you deposit $5000, how much interest will you earn in one year?

User Shufler
by
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2 Answers

4 votes

Answer:

125.00

Explanation:

User Nbering
by
7.7k points
2 votes
Simple Interest Formula
A = P(1 + rt)

where
A = amount
P= Principal
r=rate
t=time

Plugging in:
A = 5000(1 + (0.025 × 1))

User Egli Becerra
by
6.8k points
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