algebra

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Hassan deposited $7,500 into a bank account. At the end of 3 years, the account had earned $900 in simple interest. What rate of interest did the account earn per year?

  • algebra -

    900/3 = 300/yr
    300/7500 = .04

    Or
    PRT = I
    R = I/PT
    R = 900/(7500 * 3)
    R = .04 = 4%

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