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20 October, 11:46

Jennifer made $72 in interest by placing $600 in a savings account with simple interest for 1 year. What was the interest rate?

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  1. 20 October, 11:54
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    600 (1 + (r x 1)) - 600=72

    600 (1+r) = 672

    1 + r = 672/600

    r = (672/600) - 1

    r = 3/25
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