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Zeke is calculating the interest earned on a deposit of $5,200 in an account that earns 3.15% simple interest after 48 months.

Formula: [tex]I = prt[/tex]

Zeke's calculation:
[tex]I = 5,200(0.0315)(48)[/tex]
[tex]I = 7,862.40[/tex]

Zeke finds the interest earned to be $7,862.40 as shown in his work above.

Find and describe the mistake in Zeke's work.
Find the correct amount of interest earned.

Answer :

Answer:

655.20

Step-by-step explanation:

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Rewritten by : Barada

Answer:

686.81

Step-by-step explanation:

The interest of this Question is 686.81.

P: 5200

T:4 Years

R: 0.0315

A=5200(1+0.0315)^4 = Total Value - P = The interest. AKA 686.81