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Bond [772]
3 years ago
12

Larry invests $100 in a savings plan. The plan pays 4 ½% interest each year on his $100 account balance. How much money will Lar

ry earn in interest after 3 years? After 5 years?
Mathematics
2 answers:
Vlada [557]3 years ago
6 0
113.5 and 125.5 I think
nikitadnepr [17]3 years ago
3 0
Interest = (principal or amount invested) • (interest as a decimal) • (time in years)
I = (100)•(0.045)•(3) = $13.50
and
I = (100)•(0.045)•(5) = $22.50
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