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Mrs. Nelson deposits $2,500 in an account that earns 5% simple interest. How much is Mrs. Nelson's investment worth after 20 years ? A:2500 B:5000 C:4500

Mrs. Nelson deposits $2,500 in an account that earns 5% simple interest. How much is Mrs. Nelson's investment worth after 20 years ? A:2500 B:5000 C:4500
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Mrs. Nelson deposits $2,500 in an account that earns 5% simple interest. How much is Mrs. Nelson's investment worth after 20 years ?

A:2500
B:5000
C:4500

User Kick Buttowski
by
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1 Answer

2 votes
The answer is B because 5% of 2500 is 125 so each year 125$ gets added to her account so you multiply 125 by 20 and you get 2500. Finally you add 2500 + 2500 which gives you 5000
User LTasty
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