SOLUTION: A bank increased the rate of interest, which it paid to depositors from 3.5% to 4% per annum. Find how much more intersest Susan would receive if she deposited $64000 in bank for 6

SOLUTION: A bank increased the rate of interest, which it paid to depositors from 3.5% to 4% per annum. Find how much more intersest Susan would receive if she deposited $64000 in bank for 6

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Question 1081208: A bank increased the rate of interest, which it paid to depositors from 3.5% to 4% per annum. Find how much more intersest Susan would receive if she deposited $64000 in bank for 6 months at the new interest rate?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
I=prt
=64000*1/2*.035=$1120
=64000*1/2*.04=$1280
$160 more
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