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Invests $5,000 in a simple interest account for 5 years. What interest rate must the account pay so there is $6,000 in the account at the end of 5 years?

Invests $5,000 in a simple interest account for 5 years. What interest rate must the account pay so there is $6,000 in the account at the end of 5 years?
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invests $5,000 in a simple interest account for 5 years. What interest rate must the account pay so there is $6,000 in the account at the end of 5 years?

asked
User Blackjid
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7.7k points

1 Answer

7 votes

Answer:

They must pay 4% interest rate. Hope I am able to help.

Explanation:

answered
User Verrochio
by
7.6k points
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