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Haley deposited 400 in her bank account for 6 years. Calculate the interest if her rate is 2%

Solution

Haley deposited 400 in her bank account for 6 years. Calculate the interest if her rate is 2%

Solution

Interest : 48

Solution steps

Translate the problem into an equation:

I = 400 \cdot 0.02 \cdot 6

Simplify

I = 400 \cdot 0.02 \cdot 6

Interest : 48

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