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3 years ago

8

Scarlet deposited $500 in a savings account with simple interest. One year later she had earned $30 in interest. What was the in

terest rate?

1 answer:

ivanzaharov [21]3 years ago

3 0

Answer:

6%

Step-by-step explanation:

Interest = Principal x Rate x Time (in years)

30 = 500r

r = 3/50 or 6/100 which is 6%

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