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erma4kov [3.2K]
2 years ago
6

If $500 yields $43.49 in simple interest over 7 years, what is the annual rate?

Mathematics
1 answer:
Annette [7]2 years ago
8 0

Answer:

1.24 %

Step-by-step explanation:

500 * x  * 7  = 43.49

x = 43.49/(7*500) = .0124     1.24 %

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