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Michael is saving money to buy a car. He takes $8,000 to the bank and opens an annual certificate of deposit (CD) upon which the bank agrees to pay him 2% interest. What is the t?
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
The I in the simple interest formula stands for...
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
Michael is saving money to buy a car. He takes $8,000 to the bank and opens an annual certificate of deposit (CD) upon which the bank agrees to pay him 2% interest. What is the r?
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
Michael is saving money to buy a car. He takes $8,000 to the bank and opens an annual certificate of deposit (CD) upon which the bank agrees to pay him 2% interest. What is the I?
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
What is another word for interest rate?
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
The t in the simple interest formula stands for...
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
Michael is saving money to buy a car. He takes $8,000 to the bank and opens an annual certificate of deposit (CD) upon which the bank agrees to pay him 2% interest. How is the ending balance?
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
The r in the simple interest formula stands for...
1
Interest Earned in dollars
Annual Percentage Rate
Time in years
Interest rate in percentage form
$8,160
.02
$160
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