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A bank offers simple interest on a certificate of deposit. Jaime invests $jaime invests $900 and after one year earns $80 in interest. What was the interest rate on the certific…

A bank offers simple interest on a certificate of deposit. Jaime invests $jaime invests $900 and after one year earns $80 in interest. What was the interest rate on the certific…
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A bank offers simple interest on a certificate of deposit. Jaime invests $jaime invests $900 and after one year earns $80 in interest. What was the interest rate on the certificate of deposit?

asked
User Alexander Kleinhans
by
7.5k points

1 Answer

6 votes
the answer is about 1.09....

900x=980

980/900

1.088

so about 9%
answered
User Alen Giliana
by
8.5k points
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