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*PLEASE HELP* Compute the amount of interest earned in the following simple interest problem. Explain how you got it please

A deposit of $5,500 at 6% for 3 years

Respuesta :

tejanoajet
The formula for that is:
I = PRT
I = interest
P = principal
R = rate
T = time in years.

I = 5500(.06)(3) 
I = $990
$990 is the answer just use a = p(1+rt)

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