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| Math Central | Quandaries & Queries |
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Question from lynn, a student: I need to find what the interest will be for: 5000.00 @ 16.5% thank you for your aid |
Hi Lynn,
Suppose you had $\$2000.00$ in your savings account that paid $5.2\%$ simple interest per annum. At the end of the year you would have $5.2\%$ of $\$2000.00$ as interest. That's
\[0.052 \times \$2000.00 = \$10.40.\]
Penny
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