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25 January, 15:15

Will mark brainliest!

Interest earned: $27

Principal:?

Interest rate: 1.5%

Time: 2 years

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Answers (1)
  1. 25 January, 15:17
    0
    Step-by-step explanation:

    1.5% of x + 1.5% of (1.5% of x + x) = 27

    ^ ^

    | |

    First year's Second year's interest

    Interest

    1.5% =.015

    Applying this:

    0.015x + 0.015 (0.015x + x) = 27

    ^

    |

    Adding On To First Year

    0.015x + 0.015225x = 27

    0.030225x = 27

    x = $893.300248139
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