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26-02-2021
Mathematics

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How much money is earned if Phoenix invested $50 in an account at 17.5% simple interest for 6 years?

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rorycampbell0721 rorycampbell0721

26-02-2021

Answer:

$52.50

Step-by-step explanation:

Each year, they would make 17.5% of 50 or 0.175 * 50 = $8.75.

Since this happens for 6 years, that would be 8.75 * 6 = $52.50

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