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30 June, 14:28

If pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate

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  1. 30 June, 14:51
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    Assuming by simple you mean there is no compound interest:

    4200 x Interest rate = 630/3

    4200 x Interest rate = 210

    Interest rate = 210/4200

    Interest rate = 0.05

    Interest rate = 5%
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