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5 October, 13:39

An account earns simple interest.

a) find the interest earned

b) find the balance of the account

$2000 at 3.5% for 4 years

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Answers (1)
  1. 5 October, 16:13
    0
    If it was compound interest: the equation is 2000 (1.035) ^4

    if it was simple interest: the equation is 2000 * (1.035) * 4
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