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Find the simple interest earned for the account

$300 at 13% annual interest for 9 years

1 Answer

1 vote

9514 1404 393

Answer:

$351

Explanation:

Use the simple interest formula for this.

I = Prt

where P is the invested amount at annual rate r for t years.

Using your values, we find the interest to be ...

I = $300·0.13·9 = $351

The account will earn #351 in interest over 9 years.