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Alik [6]
3 years ago
7

Suppose you deposited ​$100 in a savings account 3 years ago. The simple interest rate is 3.2 %. The interest that you earned in

those 3 years is ​$9.60. Which of the following​ is/are true?
Mathematics
1 answer:
astraxan [27]3 years ago
7 0
It's not compounded interest, you just get $3.20 every year.
$100 * 0.032 = $3.20
$3.20 * 3 years = $9.60
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