SOLUTION: Alejandro has determined he needs to have $500,000 for retirement in 35 years. His account earns 6% interest. How much total interest will Alejandro earn?

SOLUTION: Alejandro has determined he needs to have $500,000 for retirement in 35 years. His account earns 6% interest. How much total interest will Alejandro earn?

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Question 1066297: Alejandro has determined he needs to have $500,000 for retirement in 35 years. His account earns 6% interest. How much total interest will Alejandro earn?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Simple interest

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The formula for interest earned is:

$338,709.68 is the interest earned
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check:

round this off -OK

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