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15 December, 05:17

Nina deposited $3400 into a savings account that pays a simple annual interest rate of 2.2% how much interest will she earn after 3 months?

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  1. 15 December, 05:57
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    Total = principal * (1 + rate) ^years

    Total = 3,400 * (1.022) ^.25

    3,418.55

    So, after 3 months, $18.55 in interest is earned.
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