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Find the total future amount if $500 is invested at 6.5% simple interest for 8 years

User Ali BENALI
by
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1 Answer

1 vote

Answer: $552

Explanation:

Let x be the number of year and y is the total amount

We have the equation

y= 6.5x + 500

Then put 8 in for the x

y= 6.5(8) + 500

y= $552

User TheSystem
by
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