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1 answer:
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To find the annual rate of interest, here's what we need to do:
In this case:
333/4500 x 100%
=37/500 x 100%
=7.4%
Therefore the answer is 7.4%.
Hope it helps!
To find the annual rate of interest, here's what we need to do:
In this case:
333/4500 x 100%
=37/500 x 100%
=7.4%
Therefore the answer is 7.4%.
Hope it helps!