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19 June, 13:31

How much interest will Hannah earn in 4 years if she deposits $630 in a savings account at 6.5% simple interest

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  1. 19 June, 13:56
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    Interest rate (simple), i = 0.065

    Present value, P = 630

    number of periods (years), n = 4

    Interest earned in 4 years

    = Pin

    = 630*0.065*4

    = $163.8
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