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Bernie has 90 in a savings account.The interest rate is 10% per year and is not compounded.How much interest will he earn in 2 years?

Solution

Bernie has 90 in a savings account.The interest rate is 10% per year and is not compounded.How much interest will he earn in 2 years?

Solution

Interest : 18

Solution steps

Translate the problem into an equation:

I = 90 \cdot 0.1 \cdot 2

Simplify

I = 90 \cdot 0.1 \cdot 2

Interest : 18

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