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Popular Word Problems >

You deposit 200 in an account that earns simple interest at an annual rate of 5.2%.How much money is in the account after 5 years?

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Solution

Youdeposit200inanaccountthatearnssimpleinterestatanannualrateof5.2%.Howmuchmoneyisintheaccountafter5years?

Solution

Amount:252
Solution steps
Translate the problem into an equation:A=200(1+0.052⋅5)
200(1+0.052⋅5)=252
Amount:252

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