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Find the annual interest rate. I = $24, P = $400, t = 2 years The annual interest rate is _% ?
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5 votes
Find the annual interest rate.

I = $24, P = $400, t = 2 years

The annual interest rate is _% ?

User Bojan Bozovic
by
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1 Answer

4 votes

Answer:rate = 24*100/(400*2) = 3%

Explanation:

User Harshal Bulsara
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