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Miguel deposited $1,200 into an account that pays simple interest at an annual rate of 4%. What is the value of his initial deposit after 3 years?
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Miguel deposited $1,200 into an account that pays simple interest at an annual rate of 4%. What is the value of his initial deposit after 3 years?

User Lzagkaretos
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Answer:

At the end of 3 years, your savings will have grown to $1,349

User Sirdank
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