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OpenStudy (anonymous):
Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What simple interest rate did the account earn?
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OpenStudy (anonymous):
The account earned 105% from the original value.
OpenStudy (anonymous):
Gained 787.50-750/750%=5% use simple interest formula for calculate the rate SI=PTR/100
OpenStudy (anonymous):
SI=PTR/100 787.50=750*15*r/100 r=7
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