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You deposit $350 in a savings account. The account earns 2.3% simple interest per year. What is the balance after 2 years?

You deposit $350 in a savings account. The account earns 2.3% simple interest per year. What is the balance after 2 years?
asked 26.1k views
16 votes
You deposit $350 in a savings account. The account earns 2.3% simple

interest per year. What is the balance after 2 years?

asked
User Tschitsch
by
8.1k points

1 Answer

6 votes

Answer:

$366.10

Explanation:

A = P (1 + rt)

= 350 (1+0.023 x 2)

= 350 (1.046)

=366.1

answered
User Dududko
by
8.4k points
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