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3 years ago

S $1,595 deposit for 10 years at a simple interest rate of 8%

Mathematics

1 answer:

o-na [289]3 years ago

6 0

Answer:

$2,871.00

Step-by-step explanation:

Calculation:

First, converting R percent to r a decimal

r = R/100 = 8%/100 = 0.08 per year.

Solving our equation:

A = 1595(1 + (0.08 × 10)) = 2871

A = $2,871.00

The total amount accrued, principal plus interest, from simple interest on a principal of $1,595.00 at a rate of 8% per year for 10 years is $2,871.00.

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Step-by-step explanation:

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Answer:

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3 years ago

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Step-by-step explanation:

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