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23 November, 00:56

Debbie has $413,640 in a savings account that earns 12.1 % annually. The interest is not compounded. How much interest will she earn in 9 months?

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  1. 23 November, 04:40
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    P = 413640, r = 12.1% per year = 0.121, time = 9months = 9/12 = 3/4 = 0.75 year.

    I = Prt

    I = 413640 * 0.121*0.75 = 37 535.83

    Interest = $37,535.83
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