document.write( "Question 428025: QUESTION: Calculate the amount of simple interest on $9,000 deposited at an interest rate of 5% for 2 years. Explain how you got your answer.
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Algebra.Com's Answer #297576 by Theo(13342)\"\" \"About 
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simple interest is not compounded interest.\r
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\n" ); document.write( "\n" ); document.write( "it does not assume re-investment of the profits.\r
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\n" ); document.write( "\n" ); document.write( "to find simple interest, you multiply the principal by the interest rate to get the interest.\r
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\n" ); document.write( "\n" ); document.write( "9000 * .05 = 450 interest.\r
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\n" ); document.write( "\n" ); document.write( "multiply the interest by 2 to get 900 interest for the 2 years.\r
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\n" ); document.write( "\n" ); document.write( "formula would be p * i * n\r
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\n" ); document.write( "\n" ); document.write( "p is the principal (9000)
\n" ); document.write( "i is the interest rate (.05)
\n" ); document.write( "n is the number of years (2)\r
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\n" ); document.write( "\n" ); document.write( "formula becomes 9000 * .05 * 2 = 900\r
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