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How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?
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How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?

User Taggon
by
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2 Answers

3 votes

Answer:

6 years

Step-by-step explanation:

$8 per year $48 ÷ $8 = 6 years

User Isaac Moses
by
7.8k points
7 votes

Answer:

6 years

Explanation:

8$ per year $48 divided by $8=6

User Srikanth Josyula
by
8.0k points
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