A bank offers simple interest on a certificate of deposit. Jaime invests $jaime invests $900 and after one year earns $80 in interest. What was the interest rate on the certificate of deposit?

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asked Sep 26, 2019 6.2k views

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A bank offers simple interest on a certificate of deposit. Jaime invests $jaime invests $900 and after one year earns $80 in interest. What was the interest rate on the certificate of deposit?

Mathematics
middle-school

Alexander Kleinhans asked

by Alexander Kleinhans

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the answer is about 1.09....

900x=980

980/900

1.088

so about 9%

Alen Giliana answered Oct 2, 2019

by Alen Giliana

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