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Find the annual interest rate. Round your answer to the nearest hundredth of a percent. I=$160.67, P=$2000, t=8 monthsI=$160.67, P=$2000, t=8 months

Find the annual interest rate. Round your answer to the nearest hundredth of a percent. I=$160.67, P=$2000, t=8 monthsI=$160.67, P=$2000, t=8 months
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Find the annual interest rate. Round your answer to the nearest hundredth of a percent. I=$160.67, P=$2000, t=8 monthsI=$160.67, P=$2000, t=8 months

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User Artem Viter
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8.4k points

1 Answer

3 votes
R=i/pr

R=160.67/2000*(8/12))*100
R=12.05%
answered
User Hyztname
by
8.1k points
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