If $5000 is invested at 7.5%, what is the total simple interest accumulated in the checking account after 5 years?
The simple interest of $5000 invested at 7.5% annually after 5 years is $1,875.00. To find the simple interest, we multiply 5000 × 0.075 × 5 to get that. Thanks for using ChaCha!
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by Michael O.
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About Checking Account
Checking accounts are an important way to manage your money. A checking account debit card allows you to make payments that are deducted immediately from your checking account, while still allowing you to keep a record of your expenses. Make sure to shop around and get the best rates, as many banks offer free checking accounts.
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