Madelyn07 Madelyn07

25-10-2019
Mathematics

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Marsha deposited $7,000 into a savings account 4 years ago. The simple interest rate is 3%. How much money did Marsha earn in interest?

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salatulmaghrib salatulmaghrib

25-10-2019

Initial deposit = $7000
Simple interest rate: 3%
0.03*7000=$210
Yearly interest = $210
Over 4 years: $210*4=$840

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