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Erik has $17,531 in a savings account that earns 14% interest per year. The interest is not compounded. How much interest will he earn in 1 year?

Erik has $17,531 in a savings account that earns 14% interest per year. The interest is not compounded. How much interest will he earn in 1 year?
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1 vote
Erik has $17,531 in a savings account that earns 14% interest per year. The interest is not compounded. How much interest will he earn in 1 year?

asked
User Yiksanchan
by
8.3k points

1 Answer

4 votes

Answer:

$2454.34 in interest in a year

Explanation:

Turn 14% into a decimal (0.14)

17,531x0.14 = 2453.34

answered
User Gbuzogany
by
7.2k points
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