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  • 22-11-2017
  • Mathematics
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Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the nearest Penny if necessary

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xxkellyjelly
xxkellyjelly xxkellyjelly
  • 22-11-2017
simple interest for one year: 

$16100 x 0.06
= $966

Simple interest for five years: 
$966 x 5
= $4830

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