BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gary deposits $3, 700 in an account that pays 2.15% simple interest. He keeps the money in the account for 3 years, but does not make any deposits or withdrawls. How much interest will he earn after the 3 years? (I = PRT)
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$3, 700
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$23, 865
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$2, 386.50
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$238.65
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Explanation:
Detailed explanation-1: -Gary deposits $3, 700 in an account that pays 2.15% simple interest. He keeps the money in the account for three years, but doesn’t make any deposits or withdrawals. How much interest will he receive after the three years? 238.65.
Detailed explanation-2: -31.72 simple interest for 275 days.
There is 1 question to complete.