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3 years ago

11

You want to put some money in a simple interest account. It pays 8% interest annually for 2 years. You would like to earn $500 i

n interest. How much money do you need to put in?

1 answer:

lubasha [3.4K]3 years ago

6 0

<span>500=P*0.08*2
500/0.16=P
P=3125</span>

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2 years ago

Read 2 more answers