ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25%. He plans to keep it in the account for the next 10 years. How much interest would he gain in the account after 10 years?
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$50
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$450
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$500
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$5, 000
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Explanation:
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