wanda placed $100 in a saving account that pays 2 % simple interest per year .after 6 months wanda made another deposit of $100 how much money will be in her account at end of year
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Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
After 6 months
substitute in the formula above
At the end of one year
substitute in the formula above
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