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14 January, 09:59

After seven years, an initial investment of $600 earned $84. Find the interest rate.

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Answers (2)
  1. 14 January, 10:04
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    If the interest rate never compounds, then the rate would be 84/600 = 14%
  2. 14 January, 10:07
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    The simple answer is if you don't read into the question is. 84) divided by 7 which is 12%
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