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Katherine invested $140. Show earned a simple interest of 4% per year on the initial investment.If no money was added or removed from the investment, what was the amount of interest Katherine received at the end of two years?

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Answer:

$11.20.

Step-by-step explanation:

Interest = PRT/100   where P = principal amount,  r = percent rate, T = time in years.

So here we have:

Interest = 140 * 4 * 2 / 100

= $11.20.

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