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The Interest on $2,000 for 2 years is $320 what is the simple interest rate?

1 Answer

8 votes

Answer:

It would be 20

Explanation:because you have to divide 320 by 2 which equals $160 for 1 year and then divide that by 2 again would be $80 for 6 months then divide it by 2 again which would be $40 and 3 months for it then divide it by 2 again and 1 and a half months equal $20

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