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You put $5,000 in a simple interest account at a bank. You will earn $1,200 in just 4 years. What is the annual interest rate for the account?

You put $5,000 in a simple interest account at a bank. You will earn $1,200 in just 4 years. What is the annual interest rate for the account?
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You put $5,000 in a simple interest account at a bank. You will earn $1,200 in just 4 years. What is the annual interest rate for the account?

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User Greg Moens
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1 Answer

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The annual interest rate is 6%
answered
User Winerd
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