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What is the simple interest rate if p = $4000, t = 2 years and I = $320

What is the simple interest rate if p = $4000, t = 2 years and I = $320
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What is the simple interest rate if p = $4000, t = 2 years and I = $320

User Brad Harris
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1 Answer

6 votes

Answer:

Explanation:

interest was $160 for one year.

160/4000 = 0.04 = 4%

User Ahofmann
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