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In one worked example the interest earned came to:
A$2,175.00
B$2,775.00
C$2,757.00
D$2,577.00
Answer & Solution
Correct answer: B. $2,775.00
1. The principal there was $5,000.
2. The rate in decimal form was 0.0185 over 30 years.
3. The interest earned was $2,775.00.
_Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
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