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11 April, 20:43

You invest $5000 in a savings account that earns 4.5% APR simple interest for 6 years. (

a. How much interest will this investment earn?

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  1. 11 April, 21:51
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    A = P (1 + r/n) (nt)

    A = the future value of the investment

    P = (the initial deposit or loan amount)

    r = the annual interest rate (decimal)

    n = the number of times that interest is compounded per year

    t = the number of years the money is invested
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