Interest Example

• Simple interest 5% per year

• $1000 from 1997 to 2002

• 2002 - 1997 = 5

• $1000 X .05 = $50

• 5 X $50 = $250

• Simple interest 5% per year

• $1000 from 1997 to 2002

• 02 - 97 = -95

• $1000 X .05 = $50

• -95 X $50 = - $4750

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