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Kim places $500 in a bank account that pays 3% simple interest per year a) how much interest will she earn each year? b) how much will she have in her account after 1 year?
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Kim places $500 in a bank account that pays 3% simple interest per year a) how much interest will she earn each year? b) how much will she have in her account after 1 year?

User Peon
by
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1 Answer

5 votes

Answer:

a) SI = prt

SI = 500 x .03 x 1

SI = 15

b) Amount in her account after 1 year

500 + 15 = 515

User Evgeniy Kuzmin
by
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