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Populaire Word Problems >

Simpson deposits 1,200 in a savings account that earns simple interest at the rate of 5% per. What interest does he earn at the end of 1 year?

Solution

S im p so n d e p os i t s 1, 200 in a s a v in g s a cco u n t t ha t e a r n s s im pl e in t eres t a t t h e r a t e o f 5% p er . Wha t in t eres t d oes h e e a r n a t t h e e n d o f 1 ye a r ?

Solution

Interest : 60

étapes des solutions

Translate the problem into an equation:

I = 1200 \cdot 0.05 \cdot 1

Simplifier

I = 1200 \cdot 0.05 \cdot 1

Interest : 60

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