birridielvie birridielvie

11-12-2020
Mathematics

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If the principal is $10, 624 and the rate of interest is 6.25%, what is the amount of interest after four years?

If the principal is 10 624 and the rate of interest is 625 what is the amount of interest after four years class=

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crystivia crystivia

11-12-2020

Answer:

$2656

Step-by-step explanation:

6.25% of $10,624 is $664, so that is the amount of interest every year.

$664 times 4 is $2656, so after 4 years $2656 will have been paid.

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