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How much interest is earned on $214 at 4% for one year
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4 votes
How much interest is earned on $214 at 4% for one year

User Scott Willeke
by
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1 Answer

3 votes

Answer: $8.56

Work Shown:

i = P*r*t

i = 214*0.04*1

i = 8.56

Side note: I'm assuming simple interest is used.

User Molp Burnbright
by
7.8k points
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