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Mathematics

Answered

If money in a savings account earned 8% interest per annum, how much nterest would be earned on $150.00 over three years?

Answer :

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Answer:

$36

Step-by-step explanation:

Given :

Interest rate, r = 8% = 0.08

Principal, P = 150

Time, t = 3 years

Simple interest = (principal * rate * time)

Simple interest = (150 * 0.08 * 3)

Simple interest = $36

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