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16 December, 07:40

if you invest $1,500 today in a bank that gives you a 5 percent annual interest rate, which of these items can you buy in two years? A. electronics worth $1,650 B. fitness equipment worth $1,700 C. a holiday package worth $2,000

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  1. 16 December, 07:58
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    Answer: Option A. electronics worth $1650.

    Step-by-step explanation:

    In this question we have to find out the total amount we get after two years.

    So given figures are principal amount (P) = $1500

    Rate of interest (R) = 5% annual

    Time (T) = 2 years

    Now we know the formula of Simple interest (I) = (P*T*R) / 100

    ⇒ I = (1500*2*5) / 100

    ⇒ I = 15*2*5

    ⇒ I = $150

    Now total amount after two years will be = $1500 + $150

    = $1650

    So as per given option A i can purchase an electronics.
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