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An account earns 3% yearly simple interest. How much interest will you earn in 5 years if you put $820 in the account A. $130.60 B. $ 123.00 C. $943.00 D. $950.60
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An account earns 3% yearly simple interest. How much interest will you earn in 5 years if you put $820 in the account

A. $130.60
B. $ 123.00
C. $943.00
D. $950.60

User Phred Menyhert
by
8.3k points

2 Answers

11 votes
The correct answer is B. $123
User Alex Summers
by
8.3k points
6 votes

Answer:


the \: interest \: is \: 123.00(option \: b)

Explanation:


rate = 3\% \\ time = 5years \\ principal = 820


interest = (principal \: * rate \: * \: time)/(100)


interest = (820 * 5 * 3)/(100)


the \: interest \: is \: 123

User Oren Melzer
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