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Sagot :
The interest I given principal P, rate R time T is given by:
[tex]I=\frac{PRT}{100}[/tex]Substitute P = 22500, R = 3.5, and T=5.5 into the formula:
[tex]I=\frac{22500\times3.5\times5.5}{100}=4331.25[/tex]Therefore, the interest is $4331.25.
The closing account balance is given by:
[tex]P+I=22500+4331.25=26831.25[/tex]The required interest is $4331.25 and the value of the account when he closed it is 26831.25
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