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29 May, 10:51

Toby's average balance checking account pays simple interest of 2.4% annually, and he made $3.25 in interest last month. what was toby's average balance last month?

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  1. 29 May, 14:17
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    2.4% annually is 0.2% monthly

    0.2% if X = 3.25

    x = $1625
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