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PLEASE HELP ME WITH THIS Elijah started a college fund of $25,000 for a term of five years.The interest rate is 2.9 percent annually.How much interest will he have earned at the…

PLEASE HELP ME WITH THIS Elijah started a college fund of $25,000 for a term of five years.The interest rate is 2.9 percent annually.How much interest will he have earned at the…
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PLEASE HELP ME WITH THIS

Elijah started a college fund of $25,000 for a term of five years.The interest rate is 2.9 percent annually.How much interest will he have earned at the end of the term?

asked
User Samera
by
8.0k points

1 Answer

4 votes

Answer:

Interest = Principal x rate x time

I = 25000(.029)(5) = $3,625

Explanation:

answered
User Chan Le
by
7.4k points
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