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25-03-2021
Mathematics

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Mike is going to put his $97 in a savings account. This account earns 4% simple interest. Find the INTEREST EARNED after 5 years.

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25-03-2021

$19.4

Step-by-step explanation:

Simple Interest=SI

Principle(deposit)=P(97)

Rate= R(4/100=0.04)

Time= T(5)

SI=P•R•T

SI=97x0.04x5

SI=19.4

Interest earned = $19.4

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