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22 January, 18:42

Mika invested $200 into a certificate of deposit. After 6 months, the balance was $220. What was the interest rate on the deposit?

I = prt

20 = (200) (r) (0.5)

A. 10%

B. 20%

C. 40%

D. 50%

+2
Answers (1)
  1. 22 January, 21:46
    0
    The answer is B. 20% fam.
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