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A friend has $950 that has been saved from her part-time job. She will need her money, plus any interest earned on it, in six months and has asked for your help in deciding whether to put the money in a bank savings account at 4.3% interest or to lend it to Simone. Simone has promised to repay $970 after six months.

Calculate the interest earned on the savings account for six months. (Round your answer to 2 decimal places.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9278267

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