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3 years ago

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$1,250 was deposited into an account for 2 years with a 2.5% interest rate. What is the in

1 answer:

raketka [301]3 years ago

4 0

I will assume it is 2.5% interest rate over 2 years and not per year. If this isn’t the case then let me know.
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Well $1250 divided by 100 = $12.50
This is 1%-
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To make 2.5% we do-> $12.50 x 2.5= $31.25
This makes our interest rate $31.25
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To get our total amount.....
$1250 + $31.25 = $1281.25

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