$6,000 was invested at a simple interest rate. In 15 years, the account was worth $9,600. What was the interest rate? Show all your work!

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Tomas Nikodym asked Jul 11, 2022

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$6,000 was invested at a simple interest rate. In 15 years, the

account was worth $9,600. What was the interest rate? Show all your
work!

Mathematics
high-school

Tomas Nikodym asked Jul 11, 2022

by Tomas Nikodym

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1 Answer

15 votes

Answer:

4.2%

Explanation:

S.I=P×R×T

R=I×100/R×T

=6000×100/9600×15

=600000/144000

=4.2%

Houcem Berrayana answered Jul 15, 2022

by Houcem Berrayana

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1 Answer

4.2%

S.I=P×R×T

R=I×100/R×T

=6000×100/9600×15

=4.2%

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