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19-04-2021
Mathematics

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Michael deposited $1,500 into a savings account with a simple interest rate of 2%. How much money will he have in his account after 4 years if no additional deposits or withdrawals are made?

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carlos149 carlos149

19-04-2021

Answer:

$1,620

Step-by-step explanation:

2% per year:

2% of 1,500 = 30

30 x 4 = 120

1500 + 120 = 1620

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