Question

You deposit $750 into a savings account Thats pays 2.75% simple interest for 4 years. How much interest was earned?

Answer 1

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Answer 2

FV=pv(1+ it)
FV= 750(1+ .0275(4))
FV= 750(1+.11)
FV=832.50
Interest is 832.50-750
82.50.