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28 April, 09:24

Marsha deposited $7,000 into a savings account 4 years ago. The simple interest rate is 3%. How much money did Marsha earn in interest?

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  1. 28 April, 13:01
    0
    Initial deposit = $7000

    Simple interest rate: 3%

    0.03*7000=$210

    Yearly interest = $210

    Over 4 years: $210*4=$840
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