put $1000 in an account the account earns $100 simple interest in four years what is the annual interest rate

Chrisann asked May 18, 2023

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Chrisann asked May 18, 2023

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25 votes

You need to divide 100/4= 25, multiply 25 x 100= 2500, divide 2500/1000= 2.5%
Answer: 2.5%

Ryne answered May 23, 2023

by Ryne

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