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Find the annual interest rate.
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Find the annual interest rate.

Find the annual interest rate.-example-1
User JBRWilkinson
by
8.1k points

1 Answer

3 votes

the formula for simple interest is I=(ptr)/100

substitute 26.25=(500*1.5year*r)/100

=2625=750r

r=3.5%

User Avtar Guleria
by
8.1k points
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