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If a bank offers a savings that pays simple interest rate of 3% and you deposit $550.00 into the account, how much interest will you have earned after 2 years ?

If a bank offers a savings that pays simple interest rate of 3% and you deposit $550.00 into the account, how much interest will you have earned after 2 years ?
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If a bank offers a savings that pays simple interest rate of 3% and you deposit $550.00 into the account, how much interest will you have earned after 2 years ?

asked
User PaoloCrosetto
by
7.9k points

1 Answer

8 votes

Answer:

SI=P*T*R/100

=550*3*2/100

=$33

answered
User Annakata
by
8.6k points
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