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26 July, 14:56

Jordan invested $1000 in a savings account. The interest rate is 6% per year. Find the simple interest earned in 4 years. Then find the total of principal plus interest

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  1. 26 July, 17:52
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    The principal would be the original amount, which is $1,000.

    The simple interest would be $240, because you would multiply 6% by the principal and then multiply by the amount of years, which is 4. This gives you a total of 240.

    The total of principal plus interest would be $1,240, adding both the original amount and the simple interest you owe the bank.
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