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    After 6 Months, $1.78 Simple Interest Was Earned On An Investment Of $890. Can You Find The Annual Interest Rate?

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    In 6 months the interest earned is $1.78 which means that the annual amount of interest (12 months) is 1.78 x 2 = $3.56.
    3.56/890 x 100% = 0.4 %. Therefore the annual interest rate is 0.4%.

    answered 1 year ago   

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