Answered

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Scarlet deposited $500 in a savings account with simple interest. One year later she had earned $30 in interest. What was the interest rate?

Sagot :

Clarch19idn

Answer:

6%

Step-by-step explanation:

Interest = Principal x Rate x Time (in years)

30 = 500r

r = 3/50 or 6/100 which is 6%

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