SOLUTION: suppose that you have 1600 in savings account. the bank pays 2.5% annual simple interest. what would be the interest paid after 9 months? what is the balance in the account? the in
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Question 578519: suppose that you have 1600 in savings account. the bank pays 2.5% annual simple interest. what would be the interest paid after 9 months? what is the balance in the account? the interest paid after 9 months would be?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=1600*0.025*.075
I=$3
--------
1600+3=$1603
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