Savings — final balance
Savings — final balance
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Work out the final balance after the years of saving.
You save 500 $ at 4% simple interest per year for 3 years. What is the final balance?
$
What does the generator do?
It picks a deposit that is a multiple of 100, a rate of 2–6% and 2–5 years, so the simple interest is always a whole number.
How to solve
First find the simple interest (principal × rate × years ÷ 100), then add it to the original deposit.
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