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OpenStudy (anonymous):
Abraham currently has a balance of $3,075.21 in an account he has held for 13 years. He opened the account with an initial deposit of $2,152. What is the simple interest rate on the account?
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OpenStudy (anonymous):
Simple interest formula: I = PRT
OpenStudy (anonymous):
Here I is the difference between the two amounts. It's the amount added on to the original.
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