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If the simple interest on $2,000 for 7 years is $840, then what is the interest rate?
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If the simple interest on $2,000 for 7 years is $840, then what is the interest rate?

User Arik Segal
by
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1 Answer

1 vote

Answer:

Explanation:

7 years times 12 months = 70,560.00

Interest rates paid is/= 68,560.00

3% principal

97% interest

User Nuke
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