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For a Fixed Rate and Principal, the Interest Earned in a Bank

Question 12

Multiple Choice

For a fixed rate and principal, the interest earned in a bank account paying simple interest varies directly with the length of time the principal is left on deposit. If an investment of $7,000 earns $700 in 2 years, how much will it earn in 8 years?


A) $2,700
B) $2,850
C) $2,750
D) $2,900
E) $2,800

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