Suraya makes a savings of RM5 000 in a bank with the simple interest
rate 2.5% per annum. Calculate her total savings after 10 months
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To use the simple interest formula, I = Prt, we substitute in the values for ... Do you know that banks pay you to let them keep your money? ... interest is usually expressed as a percent per year, and is calculated by ... of t years at an annual interest rate r, the amount of interest, I, earned is ... 3,000)(0.055)(4).
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