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blagie [28]
2 years ago
8

A new bank customer with ​$

Mathematics
2 answers:
spayn [35]2 years ago
4 0

Answer:$3100

Step-by-step explanation:

Step one:

given data

Principal = $2500

rate = 1.2%

time = 20 years

Step two:

The simple interest is expressed as

SI= PRT/100

substitute

SI= 2500*1.2*20/100

SI= $600

The account balance after 20 years is

= principal + Simple interest

= 2500+600

<u>= $3100</u>

Ann [662]2 years ago
3 0

Answer:

$3100

Step-by-step explanation:

Step one:

given data

Principal = $2500

rate = 1.2%

time = 20 years

Step two:

The simple interest is expressed as

SI= PRT/100

substitute

SI= 2500*1.2*20/100

SI= $600

The account balance after 20 years is

= principal + Simple interest

= 2500+600

= $3100

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