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1 September, 23:53

Samuel deposited money in an account that pays an annual simple interest rate of 3.5%. at the end of 5 years, samuel earns $2625.00 in interest. how much money had he deposited in the account?

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Answers (2)
  1. 1 September, 23:59
    0
    P=i/rt

    P=2625/0.035*5

    P==15,000
  2. 2 September, 00:10
    0
    He has deposited 1500 dollars into the account.
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