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24 December, 00:31

You want to put some money in a simple interest account. It pays 8% interest annually for 2 years. You would like to earn $500 in interest. How much money do you need to put in?

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  1. 24 December, 01:18
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    500=P*0.08*2

    500/0.16=P

    P=3125
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