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Susan deposits $1,200 in an account that earns 8% simple interest annually. In how many months will Susan's account balance reach $1,344? (Use the simple interest formula I=prt, where I = interest, p =
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Mar 23, 2016
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Susan deposits $1,200 in an account that earns 8% simple interest annually. In how many months will Susan's account balance reach $1,344? (Use the simple interest formula I=prt, where I = interest, p = principal or amount borrowed, r = rate, and t = time in years.)
Mathematics
high-school
Israel Lopez
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You need to calculate the interest between the initial amount ($1200) and the final amount ($1344). The difference is $144, this is the interest that you need to gain.
Convert 1.5 years into months
Hope you understand
Beddamadre
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Mar 29, 2016
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