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26 April, 06:44

Assessment items Jackie deposited $315 into a bank account that earned 1.5% simple interest each year. If no money was deposited into or withdrawn from the account, how much money was in the account after 3 years?

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  1. 26 April, 06:50
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    The interest would be $14.17 so the total in the account is $329.17.

    you find this by using the formula:

    I = P*R*T

    I = 300*.015*3

    I = 14.17
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