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27 February, 11:27

Robert invests $3,250 into a money market account with an annual 1.7% simple interest rate. If he does not add or subtract any money, how much interest will he earn after three years?

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  1. 27 February, 14:25
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    I = PRT/100 where P = pricipal, R = rate and T = number of years. I = interest.

    So answer is (3250 * 1.7 * 3) / 100 = $165.75
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