If a bank offers a savings that pays simple interest rate of 3% and you deposit $550.00 into the account, how much interest will you have earned after 2 years ?

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asked Jul 7, 2022 37.7k views

3 votes

If a bank offers a savings that pays simple interest rate of 3% and you deposit $550.00 into the account, how much interest will you have earned after 2 years ?

Mathematics
high-school

PaoloCrosetto asked

by PaoloCrosetto

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1 Answer

8 votes

Answer:

SI=P*T*R/100

=550*3*2/100

=$33

Annakata answered Jul 13, 2022

by Annakata

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