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9 September, 22:52

Ellie has $30 in a savings account that earns 7% interest. How much will she have in total in 5 years? A.$10.50 B.$1050 C. $40.50 D. $32.50

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  1. 9 September, 23:11
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    Assuming simple interest.

    Simple Interest = PRT/100

    Simple Interest = 30 * 7 * 5 / 100 = 10.50

    Simple Interest = $10.50

    Amount = Principal + Interest = $30 + $10.50 = $40.50

    (C)
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