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Sophia.13

Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest.

  • one year ago
  • one year ago

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  1. nubeer
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    Amount = Deposit *5%*years.

    • one year ago
  2. ghazi
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    \[SI =\frac{ P*R*T }{ 100 }\] where P--> principle amount =$500 R--> rate of interest =5% T=2 years now plug in the values and get your result

    • one year ago
  3. youarestupid
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    551.25

    • one year ago
  4. youarestupid
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    it is 551.25

    • one year ago
  5. youarestupid
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    $

    • one year ago
  6. ghazi
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    i thought it would be $550 i havent calculated yet but seems like that

    • one year ago
  7. youarestupid
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    thank you

    • one year ago
  8. ghazi
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    :D YW

    • one year ago
  9. Sophia.13
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    Thanks guys.

    • one year ago
  10. youarestupid
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    welcome

    • one year ago
  11. ghazi
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    NP :)

    • one year ago
  12. TimSmit
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    If it is calculated yearly then the first year gives 500*1.05 = 525$, the second year gives 525*1.05 = 551.25$

    • one year ago
  13. ghazi
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    cool :)

    • one year ago
  14. TimSmit
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    It might not be "simple interest", depends on what she means there :)

    • one year ago
  15. ghazi
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    she wrote simple interest so i am not sure :)

    • one year ago
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