Answer:
3.7%
Explanation:
(p)principal=$3400
(t)time=9months=9÷12year=3÷4year
(i)interest=$94.50
(r)rate=?
we have
r%=i/(pt)
r%=94.50÷(3400×3÷4)
r÷100=94.50÷2550
r=0.37×100
r=3.7
required rate is 3/7%
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