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8 September, 10:11

Five years ago, Ruth made a deposit of $500 into a savings account that pays simple interest. She made no further deposits, and now her account is worth $750. What was the rate of interest per year?

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  1. 8 September, 10:31
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    The answer would be $50 per year.

    $750-$500=$250

    $250/5 years = $50 per year.
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