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What annual rate of interest would you have to earn on an investment of $5500 to ensure receiving $434.50 interest after one year? PLEASE HELPPPP
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What annual rate of interest would you have to earn on an investment of $5500 to ensure receiving $434.50 interest after one year?

PLEASE HELPPPP

User Zerokavn
by
4.5k points

1 Answer

4 votes
answer: 0.079 , 7.9%
434.50/5500 = 0.079
User Carlos Quintero
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