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28 March, 03:54

You put $250 in the bank and recieve 5% annual interest how much money do you have after 2 year

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  1. 28 March, 04:14
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    Amount = Principal + Interest.

    Interest, I = PRT

    Where P = Principal, R = Rate in % Per annum, T = Time in years.

    I = 250 * 5/100 * 2 = 25

    Amount, A = P + I = 250 + 25 = 275

    Amount = $275
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