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Sharon invested $5000 that paid 7.4% simple interest. She had it for 8 years. How much interest did Sharon earn each year?

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First you do 5,000 x 0.74 x 8 which is 29,600. Also it is 0.74 bc percent means out of 100, so you do 7.4 divided by 100.
User RKelley
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