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OpenStudy (anonymous):
Michelle Payne deposited $8,000 in a savings account paying 6.25% simple interest.How long will it take for her investment to amount to $10,000?
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OpenStudy (danjs):
simple interest = principal x Rate x time right?
OpenStudy (danjs):
I = P x r x t He made 2000 dollars in interest 2000 = 8000 x 0.0625 x time
OpenStudy (danjs):
4 years
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