Abdul deposits $700 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 2 years?
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Answered by
2
Step-by-step explanation:
Principal amount = $700
Rate of interest = 5%
Time = 2 years
SI = $700×5×2/100 = $70
He will get an interest of $70
Answered by
1
Answer:
1400$ and 10% interest rate in 2 years and 10% of 1400$ is 0.00714285714
Step-by-step explanation:
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