SOLUTION: Austin deposits $4,000 into an account that pays simple interest at an annual rate of 2%. He does not make any more deposits. He makes no withdrawals until the end of 3 years when
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Question 1141089: Austin deposits $4,000 into an account that pays simple interest at an annual rate of 2%. He does not make any more deposits. He makes no withdrawals until the end of 3 years when he withdraws all the money. How much total interest will Austin earn? What will be the total amount be in the account be (including interest)? Answer by josgarithmetic(39615) (Show Source):
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