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## If $475 is put in the bank and each year the account earns 6% simple interest, then how much interest will be earned in three years? R

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## Answers ( )

Answer:First year: 475 + (6% x 475)= 503.5

Second year: 503.5 + (6% x 503.5)= 533.71

Third year: 533.71 + (6%x 533.71)= 565. 73 (to the nearest cent)