26rhelgoe
Answered

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Rachel has given $1000 to put into a savings account. She earns 2% simple interest every month. Rachel hopes to buy a car in 8 months. Help Rachel determine whether she will have enough money if the car will cost $1500. How much money will she be short or long?

Sagot :

Answer:

She is short on money

Step-by-step explanation:

1000 x 2% = 20

20 x 8 = 160

1000 + 160 = 1160

She is $340 short

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