Margaret owes $7,000 to the bank. The debt grows with simple interest at a rate of 4% per year. How much will Margaret owe after 5 years?

Botond asked May 16, 2023

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Botond asked May 16, 2023

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24 votes

Answer:

I=p×r×t

7000×4÷ 100×5

7000×0.04 ×5

I =1400

Chrisdot answered May 21, 2023

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