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

A savings account earns 5% simple interest per year. The principal in $1200. What is the balance after 4 years?
asked 120k views
1 vote
a savings account earns 5% simple interest per year. The principal in $1200. What is the balance after 4 years?

asked
User Mbq
by
8.0k points

1 Answer

12 votes

Explanation:


1200 * 4 * 5 =

24,000

answered
User Thaddeus
by
8.3k points
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