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18 December, 09:22

Mika invested $200 into a certificate of deposit. After 6 months, the balance was $220. What was the interest rate on the deposit?

I = prt

20 = (200) (r) (0.5)

A. 10%

B. 20%

C. 40%

D. 50%

+4
Answers (1)
  1. 18 December, 09:38
    +1
    The answer is B. 20% fam.
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