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Alex17521 [72]
4 years ago
9

you put $350 in an account. The account earns $17.50 in simple interest in 2.5 years. what is the annual interest rate

Mathematics
1 answer:
PolarNik [594]4 years ago
4 0
Set up a proportion:

17.50                x
--------             --------
2.5 years            1 year

Cross multiply, 17.50 x 1 year = 17.50
    2.5 x x= 2.5 x
 Now divide:   17.50 divided by 2.5x is 7. So the annual interest rate per year is 7$. Remember that I said PER YEAR!

Hope this helps!
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