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July 2, 2015

Homework Help: Word problem

Posted by Karen on Friday, July 27, 2007 at 9:07pm.

suppose you deposit $350 in a bank account that pays 6% annual simple interest. Find the interest earned in 4 months and in 1 year.

350 x 0.06 = interest in 1 yr.
4/12 of that is the interest in 4 months.

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