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If $5000 earns $6000 simple interest in 12 years, find the interest rate.

If $5000 earns $6000 simple interest in 12 years, find the interest rate.
asked 56.3k views
2 votes
If $5000 earns $6000 simple interest in 12 years, find the interest rate.

asked
User Drew Khoury
by
7.8k points

2 Answers

5 votes
The interest rate would be 10% per year
answered
User Ldez
by
9.4k points
3 votes

Answer:

2.2% interest

Explanation:

answered
User Hugmungus
by
7.4k points
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