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22-11-2017
Mathematics

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Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the nearest Penny if necessary

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xxkellyjelly xxkellyjelly

22-11-2017

simple interest for one year:

$16100 x 0.06
= $966

Simple interest for five years:
$966 x 5
= $4830

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