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PLSSSS HELPPP Omar deposits 58000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?

PLSSSS HELPPP Omar deposits 58000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?
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5 votes
PLSSSS HELPPP

Omar deposits 58000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?

asked
User Masoud Andalibi
by
7.8k points

1 Answer

3 votes

Answer:

58 000 x 2/100 = 1 160

1160 x 5 = 5800

58 000 + 5 800 = 63 800

answered
User Yovanna
by
8.4k points
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