What amount of money will be in the account in four years

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Simple interest. A $300 deposit earns simple interest at a 5% annual rate. What amount of money (principal and interest) will be in the account in four years? Show your work.

Simple interest. What amount (principal) would you need to deposit so that an account earning simple interest will have $472 in the account after 6 years if the account earns 3% annual interest? Show your work.

Reference no: EM131855978

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