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What is the value 10 years from now of $200 deposited in an account earning 12% interest?

User PapEr
by
6.2k points

2 Answers

4 votes

Answer:240

Explanation:

$200×12%=24

24×10=240

User Allen Chak
by
5.7k points
6 votes

Answer:$440

Explanation:

Principal(p)=$200

Rate(r)=12%

Time(t)=10years

Simple interest=(pxrxt) ➗ 100

Simple interest =(200x12x10) ➗ 100

Simple interest=24000 ➗ 100

Simple interest=240

Total amount=p + simple interest

Total amount =200+240

Total amount =440

User Daylight
by
6.7k points