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Answered on
Final interest for $583 at 8% for six years is - 43,725$
Explanation : For finding the interest for 6 Years first find one year interest -
For find one year interest apply the formula of interest that is :
100/percent * Total value
then , 100 / 8 * 583$
100/8 = 12.5
12.5 * 583$ = 7,287.5$
So, the interest for one year is 7,287.5$ and for find 6 years interest we multiply one year interest with 6 year
7,287.5$ * 6 = 43,725 $ so , the total 6 year interest is 43,725$ .