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  • 09-03-2016
  • Mathematics
Answered

You put 10,000 in a simple interest account at a bank. You will earn $1,8000 in just 4 years. What is the annual interest rate for the account?

Verified Answer :

cjack3
cjack3 cjack3
  • 09-03-2016

18,000-10,000=8,000
10,000*.8=8,000
10,000+8,000=18,000
Therefore, .8 or 8% is the annual interest rate

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