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You invested $900 and received $1,548.00 after nine years. What was the interest rate?

You invested $900 and received $1,548.00 after nine years. What was the interest rate?
asked 30.0k views
2 votes
You invested $900 and received $1,548.00 after nine years. What was the interest rate?

asked
User Ouni
by
8.0k points

1 Answer

3 votes
.08 or 8%

Explanation 900x 0.08 is 72
72x9 is 648
900+648 = 1548
answered
User Lear
by
8.6k points
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