SOLUTION: John invested $400 in a savings account. How much interest will he earn in 5 years if the interest rate is 7%?
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Question 963626: John invested $400 in a savings account. How much interest will he earn in 5 years if the interest rate is 7%?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
interest = P*R*T (principal * rate * time)
interest = 400*.07*5 = 140 is the interest he earns in 5 years
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