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3 years ago

5

Ou put $5,000 in a simple interest account at a bank. you will earn $1,200 in just 4 years. what is the annual interest rate for

the account

1 answer:

Ray Of Light [21]3 years ago

8 0

Use the formula I=Prt
1200=5000*4r
1200/20000=r = 0.06 or 6% interest
Have a nice day :D

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<h3><u>Explanation</u></h3>

Convert the equation into slope-intercept form.

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What we have to do is to make the y-term as the subject of equation.

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