Help with a problem!! If you invested $1500 in a bankk account for 5 years and received $150 in a simple interest, what was the annual interest rate for the account!
Can u explain how to complete the problem? Please
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Help with a problem!! If you invested $1500 in a bankk account for 5 years and received $150 in a simple interest, what was the annual interest rate for the account!
Can u explain how to complete the problem? Please
I = P*R*T
Interest = Principal * Rate * Time
SO
R= (I)/(P*T)
So now calculate.
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