document.write( "Question 1061390: A wedding couple received $910 in gift money. they deposited it in an account that pays 5.2% simple interest, for 3 1/2 years. what is their ending balance \n" ); document.write( "

Algebra.Com's Answer #676239 by MathTherapy(10555) $\"\"$ $\"About$

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A wedding couple received $910 in gift money. they deposited it in an account that pays 5.2% simple interest, for 3 1/2 years. what is their ending balance
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This is a STUPID problem. If they leave that $910 in the account for  years, the money will earn COMPOUND INTEREST, not SIMPLE INTEREST.
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document.write( "Now, if they should WITHDRAW the interest at the end of every year, then the interest earned would be on the $910, once they MAKE SURE THEY LEAVE $910 at the end of each interest period. \n" );
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