Anonymous Anonymous

02-11-2016
Mathematics

Answered

After seven years, an initial investment of $600 earned $84. Find the interest rate.

Verified Answer :

Anonymous Anonymous

02-11-2016

The simple answer is if you don't read into the question is. 84) divided by 7 which is 12%

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glennzhang98 glennzhang98

02-11-2016

If the interest rate never compounds, then the rate would be 84/600 = 14%

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