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3 years ago

8

If $2000 is deposited into an account paying simple interest of 6% per year on a monthly basis, in how many months will this acc

ount increase by $90?
A. 22
B. 15
C. 9
D. 4

1 answer:

Lyrx [107]3 years ago

8 0

C. The monthly rate is 6pct/12 = 0.5 pct which gives 10$ each month.

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