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25 May, 01:08

You deposit $250 in a bank account that pays an annual interest rate of 2%. How much simple interest will you earn after two years?

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  1. 25 May, 04:06
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    I believe the answer is $260.1 and an interest of $10.1

    250 (1.02) = 255 - - > one year

    255 (1.02) = 260.1 - - > two years
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