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19 February, 02:22

Find annual simple interest rate

I=$426, P=$1200, t=5 years

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  1. 19 February, 02:32
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    1200 * i * 5 = 426

    6000i = 426

    i = 426 / 6000

    i = 0.071

    0.071 = 7.1%

    Step-by-step explanation:

    answer: annual simple interest rate = 7.1%
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