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3 years ago

5

Samuel deposited money in an account that pays an annual simple interest rate of 3.5%. at the end of 5 years, samuel earns $2625

.00 in interest. how much money had he deposited in the account?

2 answers:

evablogger [386]3 years ago

4 0

He has deposited 1500 dollars into the account.

bezimeni [28]3 years ago

3 0

P=i/rt
P=2625/0.035*5
P==15,000

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