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26-03-2021
Mathematics

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Keiko deposits $3000 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 5 years?

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26-03-2021

Answer:

Step-by-step explanation:

Simple interest is not compounded and is

I=Prt (where I=interest, P=principle, r=rate, t=time)

I=3000(.02)5

I=$300

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