Sonja and Jake just got married. They received $4,500 in gift money and deposited it into a savings account that pays 2.85% simple interest. How much will they have in savings after 3 years?
What will be an ideal response?
$4,884.75; I = prt = 4,500 ´ 0.0285 ´ 3 = 384.75; 384.75 + 4,500 = $4,884.75
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