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Jamie has $500 to invest for 3 years. she finds a bank that will invest her money at a simple interest rate of 5%. interest is T is equal to the principal P times the product of…

Jamie has $500 to invest for 3 years. she finds a bank that will invest her money at a simple interest rate of 5%. interest is T is equal to the principal P times the product of…
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jamie has $500 to invest for 3 years. she finds a bank that will invest her money at a simple interest rate of 5%. interest is T is equal to the principal P times the product of the rate r as a decimal and the time d in years. find the amount of interest earned after 3 years.

asked
User Dhunt
by
8.4k points

1 Answer

4 votes

15% = 0.05
$500 * 0.05 * 3 = $75

answer: amount of interest earned after 3 years is $75

answered
User Iman Sedighi
by
8.6k points
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