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You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?

You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?
asked 127k views
3 votes
You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?

asked
User Leviticus
by
7.8k points

2 Answers

6 votes

Answer:

4.5%

Explanation:

answered
User HamedFathi
by
8.3k points
0 votes
10000 * x/100 * 4 = 1800


400 * x = 1800


x = 9/2 = 4.5

4.5%
answered
User Seyma Kalay
by
7.9k points
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