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May 21, 2013

# Homework Help: Math

Posted by Rick on Monday, June 18, 2012 at 9:34pm.

If the simple interest on \$1000 for 2 years is \$300, then what is the rate?

• Math - Ms. Sue, Monday, June 18, 2012 at 9:38pm

I = PRT

300 = 1000 * R + 2

300 = 2,000R

300/2,000 = E

0.15 = 15% = R

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