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$600 at 5% for 2 years. What is the interest earned?

$600 at 5% for 2 years. What is the interest earned?
asked 80.2k views
2 votes
$600 at 5% for 2 years. What is the interest earned?

asked
User Haochen Wu
by
8.9k points

1 Answer

3 votes
$600*0.05=$30 for the first year
$630*0.05=$31.5 for the second year
$30+$31.5=$60.5
earned interest is $60.5
answered
User Dale Kube
by
9.1k points
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