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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 5 years?

User Iqbal
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Answer:

2.5% of 5000 is 125.

So in the first year you'll earn $125.

125 • 5 = $625

you will earn $625 in 5 years.

Hope this helps!

User Lostbard
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