Bianca opens a savings account the $15,620 she could save last year. If the simple interest rate is 6.25% per year. What is the total amount a savings after 4 years.
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Step 1
- Principal (P) = $15,620 - Interest rate (r) = 6.25% per year = 0.0625 (as a decimal) - Time (t) = 4 years Show more…
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