SOLUTION: find the accumulated amount at the end of eight months on a $1200 bank deposit paying simple interest at a rate of 7% a year

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Question 454506: find the accumulated amount at the end of eight months on a $1200 bank deposit paying simple interest at a rate of 7% a year
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I=1200*0.07*0.667
I=56
-------
1200+56=1256