SOLUTION: Dave invested $8,500 in a time deposite. What interest will he earn for 2 years if the interest rate is 4.75 percent?
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Question 173286: Dave invested $8,500 in a time deposite. What interest will he earn for 2 years if the interest rate is 4.75 percent? Answer by stanbon(75887) (Show Source):
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Dave invested $8,500 in a time deposit. What interest will he earn for 2 years if the interest rate is 4.75 percent?
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I = Prt
I = 8500*0.0475*2 = $807.50
Cheers,
Stan H.
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