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Use simple interest to find the ending balance $7300 at 7% for 3 years

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9514 1404 393

Answer:

$8833

Explanation:

The account balance will be given by the formula ...

A = P(1 +rt)

where P is the amount invested, r is the annual rate, and t is the number of years.

A =- $7300(1 +0.07·3) = $7300·1.21 = $8833

The ending balance is $8833.

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