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If pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate
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If pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate

User Pieces
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1 Answer

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Assuming by simple you mean there is no compound interest:

4200 x Interest rate = 630/3

4200 x Interest rate = 210

Interest rate = 210/4200

Interest rate = 0.05

Interest rate = 5%
User Elreeda
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