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19 July, 12:38

If you deposit $100 in a savings account that earns simple interest at a rate of 1.5% per year how much interest will you have earned after five years

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  1. 19 July, 12:53
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    Equation: L=P*R*T

    P=100

    R=1.5%=0.015

    T=5

    Multiply and you get 7.5 as the interest.
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