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17 November, 20:49

Irene received $425 in annual interest on a principal investment sum of $5,000. What was the simple interest rate for his return?

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  1. 17 November, 22:13
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    Irene received 425 dollars as interest rate for his principal investment which is 5000 dollars.

    Let's solve for the interest rate:

    => 425 / 5000 dollars = 0.085

    => 0.085 * 100% = 8.5%

    Thus the simple interest or annual interest to her investment is 8.5%
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