solanasb solanasb

03-03-2021
Mathematics

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What is the amount of simple interest after 3 years if $250 was deposited at a 4% interest rate?

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divoji4645 divoji4645

03-03-2021

Answer:

$290

Step-by-step explanation:

250 * 4% (Or 0.04) = $10

$10 is interest per year

$10 * 4 years = $40

$250 + $40 = $290

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