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Luis puts $2,500 into an account that earns 5% interest per year for 3 years. Find the amount of interest earned on the account

Sagot :

Samuelonum1idn

Answer:

$375

Step-by-step explanation:

Given data

Principal= $2500

Rate= 5%

TIme = 3 years

We know that the expression for the simple interest is given as

SI=PRT/100

Substitute

SI= 2500*5*3/100

SI= 37500/100

SI= $375

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