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19 December, 22:49

An investment of $1,800 in the stock market

earned $378 in two years. Find the simple

interest rate.

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Answers (1)
  1. 19 December, 23:32
    0
    The simple interest formula is I = PrT

    Here I = 378, P = 1800, T = 2

    substitute

    378 = 1800*r*2

    r = 378/3600 =.105, i. e. 10.5%
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