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Mathematics 18 Online
OpenStudy (anonymous):

what is the rate if the simple interest is $600, the principal is $3,800 and the time is 1 year? round to the nearest hundredth.

OpenStudy (kira_yamato):

Principal = 3800 Rate = r Interest (Simple) = 600 Time = 1 year \[600 = 38r\] \[r = \frac{600}{38} ≈ 15.79 percent\]

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