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Mathematics

Answered

Investment question Part 2: $3,500 is invested at 7%. How much money
will be in the account after 17 years?

Answer :

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Answer:

$7665

Explanation:

simple interest: principal * rate (%) * time (years)

Given:

principal: $3,500

rate: 7%

time: 17 years

Solve for interest received:

3,500 * 7% * 17

$4165

Total money in account:

$4165 + $3,500

$7665

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