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Mathematics

Answered

Debbie invested money in an account which pays 5% annual interest. After one year she had earned $102 interest. How much money did she invest

Answer :

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Step-by-step explanation:

A = P(1 + r)^t

(P + $102) = P[1 + (0.05)]^(1)

P + $102 = 1.05P

0.05P = $102

P = $2,040.

Hence Debbie invested $2,040.

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