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Suppose you got $5000 from family at your high school graduation. You decide to invest it for 30 years. If you invest it at 8% in a simple interest bond, how much is it worth after 30 years?

1 answer

I = PRT

I = 5,000 * 30 * 0.08

I = 12,000

5,000 + 12,000 = ?
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