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EXAMPLE 1: invests $500 at a simple interest rate of 6%. How much interest will he earn in one month? In six months? In one year?

EXAMPLE 1: invests $500 at a simple interest rate of 6%. How much interest will he earn in one month? In six months? In one year?
asked 162k views
19 votes
EXAMPLE 1: invests $500 at a simple

interest rate of 6%. How much interest will he earn in
one month? In six months? In one year?

asked
User WAF
by
9.0k points

1 Answer

2 votes
One month: $30
Six months: $180
One year: $360
answered
User Josef Prochazka
by
8.1k points
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