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OpenStudy (anonymous):
Alex invested $400 in a CD that pays 3% simple interest, calculated semiannually. How much money will Alex earn in 2 years?
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OpenStudy (jdoe0001):
just keep in mind that, 3% in decimal is 0.03 or 3/100, and that your "period" or "time" there is "semiannual", that is, 2 periods per year, so in 2 years you'd have 4 periods
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