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Popular Word Problems >

leslie put 900 in a bank that pays an 8% interest rate. how much money will she earn in interest by the end of the first year

Solution

l es l i e p u t 900 in a bank t ha t p a ys an 8% in t eres t r a t e . h o w m u c h m o n ey w i ll s h e e a r n in in t eres t b y t h e e n d o f t h e f i rs t ye a r

Solution

Amount : 972

Solution steps

Translate the problem into an equation:

A = 900 (1 + 0.08 \cdot 1)

900 (1 + 0.08 \cdot 1) = 972

Amount : 972

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