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Mr. Ray deposited $200,000 in the Old and Third National Bank. If the bank pays 8% interest, how much will he have in the account at the end of 10 years?
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Mr. Ray deposited $200,000 in the Old and Third National Bank. If the bank pays 8% interest, how much will he have in the account at the end of 10 years?

User Lisann
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1 Answer

1 vote

Answer:

2,160,000

Step-by-step explanation:

8/100 × 200000/1 = 8/1 × 2000/1

2000 × 8 = 16,000 = interest

200,000 + 16,000 = 216,000

216,000 × 10 = 2,160,000 = amount in bank account

User Ngoc
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