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If the simple interest on $3000 for 8 years is $1680, then what is the interest rate?
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If the simple interest on $3000 for 8 years is $1680, then what is the interest rate?

User Sabir Moglad
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1 Answer

3 votes
R=i/pt
R=1680/3000*8=1,680÷24,000
=0.07*100=7%
User Jolyonruss
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