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Popular Word Problems >

How much interest do you earn after 12 years if you invest 2250 at 4.5% simple interest?Identify your variables P_{_{}}_{_{}}R_{_{}}_{_{}}_{T}_{_{}}_{_{}}_{_{}}

Solution

Solution

Interest : 1215

Solution steps

Translate the problem into an equation:

I = 2250 \cdot 0.045 \cdot 12

Simplify

I = 2250 \cdot 0.045 \cdot 12

Interest : 1215

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