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Pam invested $4200 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn

Pam invested $4200 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn
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3 votes
pam invested $4200 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn

asked
User Francois Marot
by
8.5k points

2 Answers

2 votes

Answer:

The answer is 1176

Step-by-step explanation:

answered
User Rafael Pizao
by
8.5k points
3 votes
4% = 0.04 <----- multiplier.

$4200 * 0.04 = $168

7 years = $168 * 7
= $1176

Total Earnings = $4200 +$1176
= $5376
answered
User Lidsinker
by
7.8k points
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