SOLUTION: Molly has an account with her local bank. Her account earns 4.5% simple interest on a semi-annual basis. Seven years ago, she opened her account with $1,000. How much interest has

SOLUTION: Molly has an account with her local bank. Her account earns 4.5% simple interest on a semi-annual basis. Seven years ago, she opened her account with $1,000. How much interest has

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Question 804736: Molly has an account with her local bank. Her account earns 4.5% simple interest on a semi-annual basis. Seven years ago, she opened her account with $1,000. How much interest has her account earned so far?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=1000*0.045*7
I=$315
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