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ludmilkaskok [199]
3 years ago
13

Jen has $60 in a savings account that earns 5% interest per year. the interest is not compounded. How much interest will she ear

n in 3 years
Mathematics
1 answer:
Stolb23 [73]3 years ago
3 0

Answer:

$9

Step-by-step explanation:

Firstly, I want to say, if the interest is not compounded that means it is simple interest.

Simple interest is also called non-compounding interest.

We've, Principal(p)= $60

Rate of Interest (R)=5%

Time (T)= 3 years

Interest (I) = ?

By formula of Simple Interest,

S.I = PTR/100

=(60×3×5)/100

=900/100

=9

THEREFORE, the interest amount is $9.

Thank You.

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