The school that Halie goes to is selling tickets to the annual talent show. On the first day of ticket sales the school sold 10
1 answer:
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Step-by-step explanation:
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Since simple interest doesn't involve compounding, the same amount gets added on every year. So, the equation for the simple interest received is 
, where 
is the total interest, 
is the original deposit (or "principal"), 
is the interest rate, and 
is the time passed in years.
Plugging in our values, we can solve for the interest rate:
Plugging in our values, we can solve for the interest rate: