If a friend tells you she earned ($ 5,075) interest for the year on a 5 -year

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If a friend tells you she earned $\$ 5,075$ interest for the year on a 5 -year certificate of deposit paying $0.5 \%$ simple interest, what is the amount of the deposit?

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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Jan 28, 2024 01:01 AM

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If a friend tells you she earned ($ 5,075) interest for the year on a 5 -year

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In order to make our calculations we need to understand how simple interest works Simple inter...View the full answer

Nature Of Mathematics

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