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What is the amount of simple interest after 3 years if $250 was deposited at a 4% interest rate?
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What is the amount of simple interest after 3 years if $250 was deposited at a 4% interest rate?

User Daxelrod
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1 Answer

11 votes

Answer:

$290

Explanation:

250 * 4% (Or 0.04) = $10

$10 is interest per year

$10 * 4 years = $40

$250 + $40 = $290

User Tough
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