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21 April, 21:06

Carmen deposits $2000 into an account that pays simple interest at a rate of 3% per year. how much interest will she be paid in the first 2 years?

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  1. 21 April, 21:12
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    Sn=So (1+p/100*2)

    2000 * (1+3/100*2) = 2000 (1+3/50) = 2000*53/50=40*53=2120$

    My answer:2120$
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