If calculated the simple interest you would receive in five years on a savings account that earns 7.5% annual interest. Your beginning balance is $1236.59?
The annual interest on $1236.59 for one year would be $92.74. For 5 years would be $463.70 interest. $1236.59 + 463.70 = 1700.29.
Answered
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About 0 Interest
0% interest simply means that a loan is granted to someone with no interest and all the consumer needs to pay back is the amount of the loan with no additional fees.
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