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Morgan has an investment that has earned $80,000 in interest after 20 years. If his original investment was for $50,000 what must the interest rate have been?
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Morgan has an investment that has earned $80,000 in interest after 20 years. If his

original investment was for $50,000 what must the interest rate have been?

User Jason L Perry
by
4.5k points

1 Answer

7 votes

Answer:

8%

Explanation:

$80000 / 20 = $4000 per year

4000 / 50000 = 0.08

Interest rate per year = 8%

User Beatrice Zmau
by
5.2k points
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