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iris [78.8K]
3 years ago
6

Mark currently has a balance of $973.70 in an account he has held for 17 years. He opened the account with an initial deposit of

$700. What is the simple interest on the account? (3 points)
Business
1 answer:
IrinaK [193]3 years ago
5 0

Answer:

Simple interest= $273.7

Explanation:

<em>Simple interest is the interest on earned on the principal amount invested only. Kindly note that under this system, only the principal amount invested would earn interest over the course of the investment period</em>

<em> Simple interest is calculated as follows:</em>

Simple interest = Principal × Rate × Time

or

Simple interest = Future sum - Principal amount invested

DATA

Future sum- $973.70

Principal amount invested-700

Simple interest = 973.70 - 700=273.7

Simple interest= $273.7

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The inflation can be measured by the percentage of change in the CPI.

From the givens:
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4 years ago
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4 years ago
Hedman Corporation has provided the following contribution format income statement. Assume that the following information is wit
Tomtit [17]

Answer:

6%

Explanation:

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3 years ago
Crossminus−sectional ratio analysis is used to​ ________.
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I Think The answer would be c hope it helps
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3 years ago
Suzie generally prepares the majority of meals for her family. Even though she always prepares meals that are high in nutrients,
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The correct question should be:

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