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Mr. Flores opened an account with a deposit of $5,000

The account earned annual simple interest.
He did not make any additional deposits or withdrawals.
At the end of 4 years, the balance of the account was $6,500.

What is the annual interest rate on this account?

A) 5.8%
B) 7.5%
C) 3.3%
D) 1.9%

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  1. well, you know that
    5000(1+4r) = 6500
    so just find r

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  2. 6500-5000=1500
    1500=5000*r*4
    Got the rest?

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  3. Whats the answer?

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  4. 1.9

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