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skelet666 [1.2K]
3 years ago
6

$2500 in saving account earing 3,5 perccent interest. what was the the total interest earnedin 6 years

Mathematics
1 answer:
Dvinal [7]3 years ago
8 0

Answer:

I=\$525

Step-by-step explanation:

we know that

The simple interest formula is equal to

I=P(rt)

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

t=6\ years\\ P=\$2,500\\r=3.5\%=3.5/100=0.035

substitute in the formula above

I=\$2,500(0.035*6)

I=\$525

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