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You open a savings account with $800. They offer a 2%

rate of return. How long will it take you to earn $100 in

interest?

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Answers (1)
  1. 16 May, 06:58
    0
    Every time interest is compounded, you earn $16.

    Step-by-step explanation:

    If it is simple interest, it would be approx. 6-7 cycles.
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