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. A deposit of 7,500 earns 3,900 over a period of 8 years. What is thw simple interest rate?

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mary

  1. I = PRT

    3900 = 7500 * R * 8

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    Ms. Sue

  2. simple interest is the same every year so
    interest = 3900/8 = 487.50 per year

    (487.50/7500) 100

    = 6.5 %

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    Damon

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