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Item 8 You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate? The annual interest rate is %.
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Item 8 You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate? The annual interest rate is %.

User BSeitkazin
by
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1 Answer

3 votes

Answer:

6%

Explanation:

$18/9=$2 interest per month

$2 x 12 = $24 annual interest.

24/400=6%

User Flueras Bogdan
by
8.0k points
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