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Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What simple interest rate did the account earn? Select the best an…
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Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What simple interest rate did the account earn? Select the best an…
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Mar 19, 2017
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Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What simple interest rate did the account earn?
Select the best answer from the choices provided.
3%
5%
7%
11%
Mathematics
middle-school
Karol Gasienica
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I = PRT
I = 787.50
P = 750
T = 15
now we sub and find R (the rate)
787.50 = (750)(r)(15)
787.50 = 11250r
787.50 / 11250 = r
0.07 = r
0.07 x 100 = 7% = R
answer is 7%
Aniket G
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Mar 21, 2017
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Aniket G
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3
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I = PRT
I = 787.50
P = 750
T = 15
now we sub and find R (the rate)
787.50 = (750)(r)(15)
787.50 = 11250r
787.50 / 11250 = r
0.07 = r
0.07 x 100 = 7% = R
answer is 7%
Southerneer
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Mar 23, 2017
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Southerneer
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