Math

Charlie is due a refund of \$800. If he wants to receive his money 2 months early then he must pay a \$50 fee. What is the annual simple interest rate?

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2. 👎 0
3. 👁 99
1. I=PRT

50 = 800 * R * 0.1667

50 = 133.3334R

0.374 = 37.4% = R

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2. 👎 0

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