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Anonymous Anonymous
  • 02-11-2016
  • Mathematics
Answered

if pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate

Verified Answer :

Dakohta112 Dakohta112
  • 02-11-2016

Assuming by simple you mean there is no compound interest:

4200 x Interest rate = 630/3

4200 x Interest rate = 210

Interest rate = 210/4200

Interest rate = 0.05

Interest rate = 5%

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