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If the simple interest eamed on $8000 for 9 years is $2,160. Then what is the interest rate?
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If the simple interest eamed on $8000 for 9 years is $2,160. Then what is the interest rate?

User Blair Davidson
by
3.7k points

1 Answer

2 votes

Answer:

3%

Explanation:

2160/9 years =240/year

240/8000=3%

User Jtdubs
by
4.0k points
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