What was the interest rate if your balance on an investment of $830 at the end of one year is $871.50?

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asked Apr 15, 2019 131k views

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Precious Roy · Answer 1 · 2019-04-21T22:22:16+0000

$871.50-$830=$41.5-----> interest in one year

$830----------------------------->100%
$41.5------------------------------->X%

X=41.5*100/830=5 %

the interest rate was 5%

What was the interest rate if your balance on an investment of $830 at the end of one year is $871.50?

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