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Math

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Chris deposited $1,500 in a bank account for 2 years. The account earned $120.00 in simple interest. What simple interest rate did he receive?

  • Math - ,

    I = PRT

    120 = 1,500 * R * 2

    120 = 3,000R

    120/3,000 = R

    0.04 = R

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