How much must you deposit in an account to earn $400 per year at 2% simple interest?
1 answer:
Step-by-step explanation:
Simple interest is a method to calculate the amount of interest charged on a sum at a given rate and for a given period of time.
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Simple Interest Example:
Simple Interest
1 Year S.I = (1000 ×5 × 1)/100 = 50
2 Year S.I = (1000 × 5 × 2)/100 = 100
3 Year S.I = (1000 ×5 × 3)/100 = 150
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<h3>Option C. 6 : 1 is the answer.. </h3>
<h2>Hope it can help you and please mark me as a brainlist..</h2>
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Step-by-step explanation:
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Answer:
B. or the second one
Step-by-step explanation:
