SOLUTION: Bethany invests $5900 in a money market account at a rate of 5% for 4 months. How much money will she receive in interest if the interest is calculated using the simple interest fo
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Question 1055097: Bethany invests $5900 in a money market account at a rate of 5% for 4 months. How much money will she receive in interest if the interest is calculated using the simple interest formula? Round your answer to the nearest penny if necessary. Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Using simple interest, the money she will receive, in addition to her principal, would be :
5900 x .05 x 4/12=$98.33. ☺☺☺☺
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