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A deposit of $11,000.00 was made to an account seven years ago. After seven years, the account had earned $3,465.00 in interest. What simple interest rate did the account earn? Select the best answer from
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A deposit of $11,000.00 was made to an account seven years ago. After seven years, the account had earned $3,465.00 in interest. What simple interest rate did the account earn?

Select the best answer from the choices provided.



4.5%



9%



12%



18%

User SkarXa
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1 Answer

3 votes
4.5%. 11,000 x .045=. Then multiply by 7.
User Saeida
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