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John invests 100 dollars in account that yields 8% simple in
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12 Oct 2017, 20:44
12 Oct 2017, 20:44
00:00
Question Stats:
99% (00:19) correct
0% (00:00) wrong based on 17 sessions
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John invests 100 dollars in account that yields 8% simple interest annually. How much money will John have in his account after one year?
(A) $4
(B) $8
(C) $104
(D) $108
(E) $110
Kudos for correct solution.
(A) $4
(B) $8
(C) $104
(D) $108
(E) $110
Kudos for correct solution.
Re: John invests 100 dollars in account that yields 8% simple in
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13 Oct 2017, 05:34
13 Oct 2017, 05:34
1
Its 108
100 + 100*8/100 = 108
100 + 100*8/100 = 108
Re: John invests 100 dollars in account that yields 8% simple in
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15 Oct 2017, 02:20
15 Oct 2017, 02:20
1
100(1+i) = 100*(1+0.08) = 100*1.08 = 108. Answer D
