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❗️❗️❗️❗️❗️PLEASE HELP SIMPLE INTEREST!! Lesson 6.7 ❗️❗️❗️❗️ A savings account earns 5% simple interest per year. The principal is $1200. What’s the balance after 4 years

❗️❗️❗️❗️❗️PLEASE HELP SIMPLE INTEREST!! Lesson 6.7 ❗️❗️❗️❗️ A savings account earns 5% simple interest per year. The principal is $1200. What’s the balance after 4 years
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❗️❗️❗️❗️❗️PLEASE HELP SIMPLE INTEREST!! Lesson 6.7 ❗️❗️❗️❗️

A savings account earns 5% simple interest per year. The principal is $1200. What’s the balance after 4 years

asked
User Jeyamaran
by
7.6k points

1 Answer

2 votes

1200 * 0.05 * 4 = 240$ the amount of interest after 4 years.

total 1200+240=1440$

answered
User Ben Keating
by
8.4k points
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