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6 September, 00:08

An account earns simple interest. $700 at 8% for 6 years. Find the interest earned and find the balance of the account.

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  1. 6 September, 00:16
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    You do I=P*R*T

    I=700*8%*6

    I=4,536 that is the Interest.

    Now you will subtract $4,536-$800=$3,736.

    That is the balance of the account.
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