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8 May, 07:56

Mr. gardener has $300,000 in his savings account and receives 8 1 3 % interest annually. what interest (in dollars) does he receive annually?

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  1. 8 May, 08:09
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    Clarification to the question is that Mr. Gardener receives 8 and 1/3% (or 8.33%) interest annually.

    The calculation is as follows

    (money) (%interest) = interest

    (300000) (8.33%) = interest

    (300000) (0.0833) = interest

    interest = 24990 or roughly 25000 anually
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