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Math Word Problem

Ivy C.

asked • 12/17/14

We invest $2400.00 in an account that pays simple interest of 8% each year.

Find the interest earned after five years. The answer is $960. I can't get the formula to come up to that answer. What am I doing wrong?

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Philip P. answered • 12/17/14

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Interest = Principle*Rate*Time

Interest = ($2400)*(0.08)*(5 years)

Can you finish it from here?

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Ivy C.

That's just it, Mr. P. I can't make it come out to $960.

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12/17/14

Ivy C.

But I'm trying. I remembered I forgot to thank you. Thank you very much.

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12/17/14

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