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pogonyaev
3 years ago
14

A bank says you can double your money in 8 years if you put $2,000 In a simple interest account. what annual interest rate does

the bank pay?
Mathematics
2 answers:
Monica [59]3 years ago
5 0
A = P*r*t
A = overall value
P = principal (initial value)
r = annual interest
t = time (in years)

Plug in what we have:
4000 = 2000*r*8
Simplify:
0.25 = r
The annual interest is 25%
Viktor [21]3 years ago
3 0

Answer:

the correct answer is 12.5 percent

Step-by-step explanation:

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