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4 years ago

7

Nasser invested $550 at 6% simple interest for 5 years. What was his investment worth after 5

1 answer:

kirill [66]4 years ago

4 0

Answer:

B. $715

Step-by-step explanation:

By multiplying your starting value, in this case $550, and your (simple) interest, 6%, or by 1.06 as 0.06 being your interest value and the 1.00 accommodating your starting value you will multiply, $550 × 1.06 = $583. Repeat these steps for however many years you are account for, in this case, five years. Giving you a total of $715

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Answer with Step-by-step explanation:

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