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05-11-2018
Mathematics

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Tanner has 80$ in an savings account. The interest rate is 10% and is not compounded. How much interest will he earn in 1 year?

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altavistard altavistard

05-11-2018

Answer:

$8

Step-by-step explanation:

The formula for simple interest is i = p*r*t, where r is the interest rate as a decimal fraction.

Here, i = $80*0.10*1 = $8

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