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You deposit $800 in an account. The account earns $360 simple interest in 3 years. What is the annual interest rate?

Respuesta :

madethisfortwitch1

Answer:

15%

Step-by-step explanation:

We have the followign simple interest formula

FV (aka AV)=PV(1+it)

which means that we have

(800+360)=800(1+3i)

1.45=1+3i

.45=3i

.15=i

15%

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