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March 26, 2017

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Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?

  • math - ,

    INTEREST= PRINCIPAL X INTEREST X TIME
    = 4000 X 6 X 5
    ( YOU HAVE TO DIVIDE THE INTEREST RATE BY 100 WHICH WILL GIVE U .06)
    = 4000 X .06 X 5
    = 24 X 5
    = 120

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