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Home > MC2 > Chapter 10 > Lesson 10.1.2 > Problem 10-17

10-17.

Find the amount of interest Rachel makes. Remember, her interest is added on each month.
Consider how many months there are in 2 years.

Using I = Prt: 1000 (0.02) 24

In 2 years, Rachel will have gained 480 dollars of interest.