Finding Simple Interest

The video tutorial explains how to calculate simple interest using the formula: Interest equals principal times rate times time. It presents a problem where Paloma deposits $750 in a savings account with a 2% annual interest rate. The tutorial guides viewers through calculating the interest earned over one year and determining the total amount in the account. The solution involves converting the interest rate to a decimal, multiplying by the principal and time, and adding the interest to the initial deposit to find the total amount.

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