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21 October, 02:45

Find the annual interest rate. I=$562.50, P=$1500, t=5 years I $ 562.50 P $ 1500 t 5 years The annual interest rate is %

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  1. 21 October, 03:17
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    I = PRT 562.5 = 1500 R (5)

    562.5/5 = 1500 R

    112.5 = 1500 R

    112.5 / 1500 = R

    0.075 = R

    R = 7.5%
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