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11 February, 20:45

Pam deposited $890 in a savings account, with three percent simple interest. How much interest will she earn in five years?

1.) 26.70

2.) 133.50

3.) 103.30

4.) 96.33

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  1. 12 February, 00:08
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    The answer is option 2. Pam will earn an interest of $133.50 from his savings account of $890 with an interest of 3%. Simple interest, also known as flat rate interest, is an interest to be paid or earned each year having a fixed percentage from a principal amount. It is calculated as follows:

    $890 x. 03 x 5 = $133.50
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