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You have invested $2000 at 3.75% annual interest.
How much money do you have after 20 years?

Sagot :

Answer:

  • $3500

Step-by-step explanation:

Let's use PRT/100 to see what will be the total amount.

  • Total amount = Interest + Principle

Solution:

  • PRT/100 = Interest
  • => 2000 x 3.75 x 20 years/100
  • => 20 x 3.75 x 20 = Interest
  • => 2 x 2 x 375 = Interest
  • => 4 x 375 = Interest
  • => 1500 = Interest
  • => Total amount = 1500 + 2000
  • => Total amount = $3500

Hence, after 20 years, the amount earned is $3500.

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