Suppose you earn 3% on a $1,200 deposit for 5 years. Explain how the simple interest is affected if the rate is increased by

Question

Suppose you earn 3% on a $1,200 deposit for 5 years. Explain how the simple interest is affected if the rate is increased by 1%. What happens if the time is increased by 1 year?

Kunduz · Accepted Answer

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