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kenny6666 [7]
3 years ago
7

If George put $600 in a savings account at a simple interest rate for each year. What was his interest rate, r, if after 3 years

he had a total of 708$
Mathematics
1 answer:
egoroff_w [7]3 years ago
8 0

Answer:

  6%

Step-by-step explanation:

The multiplier on George's money is ...

  $708/$600 = 1.18

This value is ...

  1 + rt = 1.18 . . . . . for t = 3

  3r = 0.18 . . . . . . subtract 1; next divide by 3

  r = 0.06 = 6%

The simple interest rate on George's account is 6%.

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