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4 December, 19:24

Kate has $60 in a savings account that earns 5% annually. The interest is not compounded.

How much will she have in 1 year?

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount),

is the interest rate expressed as a decimal, and t is the time in years.

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Answers (1)
  1. 4 December, 19:48
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    5% of $60 is 3, so she will earn $63 in a year.
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