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22 July, 10:28

Ou put $5000 in an account. The account earns $2250 simple interest in 10 years. What is the annual interest rate?

The annual interest rate is

%.

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  1. 22 July, 13:41
    0
    2250 : 10 years = 225 per year

    simply interest does not compound. It is just a set amount every year.

    225/2250 = 1/10

    10% simple interest per year
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