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4 votes
Florence has $400 in a savings account. The interest rate is 5% per year and is not

compounded. How much interest will she earn in 1 year?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount),
is the interest rate expressed as a decimal, and t is the time in years.

1 Answer

4 votes

Answer:

$20

Explanation:

I = 400(.05)(1)

I = 20

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