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11. A teacher opened an investment account at a bank. At the end of each year, the bank paid 6.4% annual simple interest on the money in the account. The table shows the activity in
the account for three years.
Investment Account Activity
Year Beginning Balance for Year Deposited at Beginning of Year New Balance Interest Rate Interest Earned Ending Balance for Year
$0.00
6.4%
$32.00
$532.00
$500.00
$500.00
$500.00
$1,032.00 6.4%
$66.05
$1098.05
$1,098.05
$500.00
$1,598.05
6.4%
$1,700.33
Using the drop down box write a statement explaining why the balance in this account has grown.
The balance in the account has grown because -Choose the correct answer ---
2
3

$532.00
(PREVIOUS
10
011
$102.28
12
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