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4 July, 02:54

An investment of $1,800 in the stock market

eamed $378 in two years. Find the simple

interest rate ...

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Answers (1)
  1. 4 July, 03:16
    0
    The simple interest formula is I = PrT

    Here I = 378, P = 1800, T = 2

    substitute

    378 = 1800*r*2

    r = 378/3600 =.105, i. e. 10.5%
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