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Paula invests $10,000 for 5 years at an interest rate of 10% per year. If the interest is simple interest, how much is her investment worth at the end of those five years?

 Jun 2, 2020
 #1
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$10,000  x  10%  x   5 years =$5,000  Simple interest earned over 5 years.

 

$10,000 + $5,000 = $15,000 Total principal + interest over 5 years.

 Jun 2, 2020
 #2
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Principal  + Simple Interest  = 

 

10000 +  10000 ( interest rate) ( time in years)  =

 

10000  + 10000(.10)(5)  =

 

10000 + 5000 =

 

$15000  after five years

 

smiley

 Jun 2, 2020

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