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We invest $ 5 5 0 0 in an account that pays simple interest of 3 % each year. How much interest is earned after

We invest $

5500

in an account that pays simple interest of

3 %

each year. How much interest is earned after

10

years?

Recall that the simple interest formula does not use Excel. The simple interest formula calculates interest only.

The interest earned after

10

years is $

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