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kondor19780726 [428]
3 years ago
5

Fran deposited 4869 into a savings account that pays simple annual interest rate of 3.25% how much interest will she earn after

30 months. SHOW THE WORK
What is y when x=30 show the work
Mathematics
1 answer:
Whitepunk [10]3 years ago
8 0

Answer:

$395.61

Step-by-step explanation:

The formula for simple interest is:

i=Prt

Where

i is the interest amount

P is the principal amount

r is the rate of interest per time period

t is the time period

Here,

P = 4869

we want to find after 30 months, that converted to years is:

30/12 = 2.5 years

t = 2.5

The annual rate is 3.25% = 0.0325

Now, substituting, we find our answer:

i=Prt\\i=(4869)(0.0325)(2.5)\\i=395.61

The interest earned is <u>$395.61</u>

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