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You place some money in a savings account the savings account earns 2% simple interest. explain how you can find the interest earns after x years.
The formula of simple interest is A=prt. Because of this, you can plug in what you know to find your total amount in your account. Convert the interest rate to a decimal. 2%=0.02
Answer: A=P*0.02*x where A=Total amount of money in account ($) P=Amount of money invested ($) x=Time (yrs)
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