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You deposit $250 in an account. The account earns $20 simple interest in 4 years. What is the annual interest rate?

You deposit $250 in an account. The account earns $20 simple interest in 4 years. What is the annual interest rate?
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8 votes
You deposit $250 in an account. The account earns $20 simple interest in 4 years. What is the annual interest rate?

User Larspars
by
8.2k points

1 Answer

8 votes

Answer:

5.00

Explanation:

20/4 years = 5 per year

User Sunil Kumar Yadav
by
8.3k points
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