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2. How much interest is earned on a principal of $267 invested at an interest rate of 6% for six years?

User FoOg
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Final answer:

The interest earned on a principal of $267 invested at an interest rate of 6% for six years is $96.12.

Step-by-step explanation:

To calculate the interest earned on a principal of $267 invested at an interest rate of 6% for six years, we can use the formula for simple interest: Interest = Principal × Rate × Time. Substituting the given values into the formula, we get: Interest = $267 × 0.06 × 6 = $96.12. Therefore, the interest earned is $96.12.

User Fbrandel
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