bobbiesilly39 bobbiesilly39
  • 19-11-2020
  • Mathematics
contestada

How much money must be deposited to earn $219 in simple interest in 8 years at an annual rate of 6.2%?​

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105002424
105002424 105002424
  • 19-11-2020

Answer:    $1,147.20.

Step-by-step explanation:

The total amount accrued for principal plus interest in the calculation simple interest

= principal * (1+ rate * number of years)

= $800 *(1+ 6.2% * 7)

= $1,147.20.

Hopefully his helped, if not HMU and I will try my best to get u a better answer! :)

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