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Mathematics 25 Online
OpenStudy (anonymous):

After 8 years, Ofelia earned $980 in simple interest from a CD into which she initially deposited $7000. What was the annual interest rate of the CD?

OpenStudy (shane_b):

The simple interest formula is:\[I=Principal*rate*time\]All you need to do is fill in the values and solve for r.

OpenStudy (anonymous):

wanna do it for me :)

OpenStudy (shane_b):

I'll help you do it but I won't answer it for you :) What would the above equation look like if you plugged in the values? Let's start with that.

OpenStudy (anonymous):

its ok i got help thank you :]

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