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Valentina invested 6500 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

Respuesta :

BodaciousT
In order to find that all you do is multiply 6,500*.04*7
And the simple interest is $1,820

Answer: She earned $ 1820 simple interest.

Step-by-step explanation:

Here, the principal amount, P = $ 6500,

Annual rate of interest, r = 4 %,

Time, t = 7 years,

Thus the simple interest earned in this amount,

[tex]S.I.=\frac{P\times r\times t}{100}[/tex]

[tex]=\frac{6500\times 4\times 7}{100}[/tex]

[tex]=\frac{182000}{100}=1820[/tex]

Thus, she earned $ 1820 simple interest.

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