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Answered

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If you invest $5,000 at a simple interest rate of 8% per year for 6 years, how much money will you earn from interest? How much money will you have at the end of the six years? Show all work

Sagot :

Answer:

you will earn $2,400

Step-by-step explanation:

formula; I=PRT

therefore, I=5000×8×6/100

40,000×6/100

240,000/100

equals to $2,400

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