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25 August, 16:38

Frank invests 250$ at a simple interest rate of 5%. How much interest will he earn after 4 years?

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  1. 25 August, 16:48
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    I got $50 of interest over 4 years

    1 year = 250*5% or 1 year = 250*.05

    1 year of interest = $12.5

    4 years of interest = 12.5*4

    4 years of interest = $50
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