albulenabresaco albulenabresaco

05-02-2021
Mathematics

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Jacob has $50,000 in a savings account. The interest rate is 6% per year and is not
compounded. To the nearest cent, how much interest will he earn in 1 year?

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davis1mclauchlin davis1mclauchlin

05-02-2021

He will earn $3000 in interest in one year. This is because when you find 6 percent of 50000 it is 3000.

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