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13 January, 20:11

invested $500 for 3 years at the investment maturity its value was 578 what was the annual Simpsonville interest rate

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  1. 13 January, 20:17
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    I=PRT

    I subtracted the 500 from the total so that I just had the interest.

    78=500 (3) R

    78=1500R

    divide both sides by 1500

    R=.052

    R=5.2%
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