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Ernie deposits $5,500 into a pension fund. The fund pays a simple interest rate of 6% per year. What will the balance be after one year?
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Ernie deposits $5,500 into a pension fund. The fund pays a simple interest rate of 6% per year. What will the balance be after one year?

User Magsol
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1 Answer

1 vote

Answer:

Balance after one year will be $5830.

User Thab
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