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15 November, 14:03

An amount of $8,000 is invested at a simple interest rate of 1.5%. What is the total amount after three years?

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  1. 15 November, 14:19
    0
    If you're looking for the interest the answer would be:

    i=8,000*.015*3

    i=360.

    The interest would be $360 dollars.

    The balance would be 8,000+360 = $8,360
  2. 15 November, 14:20
    0
    You do $8000 (1.50) ^3

    with 3 being the amount of years. which ends up being $27,000 after three years
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