If you have $10,000 in a savings account and you earn 8% simple interest, how much money will be in the account after 3 years?

Tom Martin asked Mar 25, 2022

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Tom Martin asked Mar 25, 2022

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27 votes

Answer:

$ 12400

Explanation:

P =$10,000

r= 10%

t = 3 year

I = P*r*t=(10000*8*3)/(100)

I = $ 2400

Amount = P + I = 10000 + 2400 = $ 12,400

Giker answered Apr 1, 2022

by Giker

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