EggyMeggy EggyMeggy

29-04-2017
Mathematics

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PLEASE HELP QUICK!
Jose deposits $500 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 3 years?

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iraqvet iraqvet

29-04-2017

at the end of 3 years Jose will have made 546.36. so the answer is 46.36 will be payed in the first 3 years.

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mreijepatmat mreijepatmat

29-04-2017

The amount of the SIMPLE (& not compound) interest is $500x 3% =$15

After 3 years he will get 3 x 15 =$45

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