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frutty [35]
3 years ago
8

Miguel deposited $1,200 into an account that pays simple interest at an annual rate of 4%. What is the value of his initial depo

sit after 3 years?
Mathematics
2 answers:
sveta [45]3 years ago
7 0

Answer:

At the end of 3 years, your savings will have grown to $1,349

Angelina_Jolie [31]3 years ago
5 0

Answer:

end of third year = 1,200*(1.02)^3  = 1,273.45 plus

end of second year = 1,200*(1.02)^2 = 1,248.48  plus

end of first year = 1,200*(1.02) = 1,224.00

Total = 3,745.9

Step-by-step explanation:

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