Sarah has $31,000 in a savings account. The interest rate is 8% per year. How much simple interest will she earn in 5 years?

ChrisProsser asked Apr 7, 2022

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ChrisProsser asked Apr 7, 2022

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18 votes

Answer:

$12,400

Explanation:

Interest = Principal x Rate x Time (in years)

I = 31000 x .08 x 5

I = 12,400

JKaz answered Apr 13, 2022

by JKaz

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