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Vadim26
20 days ago
5

Caleb invested $8700 in a savings account with a yearly interest rate of 3% for 7 years. How much simple interest did he earn?

Mathematics
2 answers:
Inessa [9K]20 days ago
7 0

The answer is:

letter b

Step-by-step explanation:

Inessa [9K]20 days ago
4 0
Simple interest calculation
i = prt
where i represents the interest earned, p is the principal (the initial amount invested), r indicates the annual interest rate, and t stands for the duration in years.

i = prt

i = 8700 * 0.03 * 7

i = 1827

Answer: B. $1827
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