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3 years ago

6

Money deposited $8000 into an account 6 years ago. The account earned simple interest at a yearly rate. So far the total interes

t is $1200. What is the rate for the account.

1 answer:

matrenka [14]3 years ago

4 0

Answer:

2.5%

Step-by-step explanation:

interest = principal * rate * time

1200 = 8000r6

1200 = 48000r

r = 0.025

Rate for account is 2.5%

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