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Vesnalui [34]
3 years ago
11

Megan took out a student loan for $9,075 if she paid $4.537.50 in simple interest over 10 years what percent was her interest ra

te
Mathematics
1 answer:
madam [21]3 years ago
7 0

Answer:

5%

Step-by-step explanation:

Solving our equation

r = 4537.5 / ( 9075 × 10 ) = 0.05

r = 0.05

converting r decimal to a percentage

R = 0.05 * 100 = 5%/year

The interest rate required to

accumulate simple interest of $ 4,537.50

from a principal of $ 9,075.00

over 10 years is 5% per year.

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Answer:

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3 0
3 years ago
Does anyone know this??
STALIN [3.7K]
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~ Hope this helps you!
5 0
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Read 2 more answers
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