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4 years ago

9

Jeremy deposited money into a savings account that pays a simple annual interest rate of 1.6%. He earned $55.04 in interest afte

r 4 years. How much did he deposit ?
A. $860
B. $1376
C. $2976
D. $3440

1 answer:

amm18124 years ago

7 0

Answer: A
Calculation
(4)*(0.016) = 4 years of interest = 0.064
$55.04 / 0.064 = $860

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