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OpenStudy (anonymous):
Mark currently has a balance of $973.70 in an account he has held for 17 years. He opened the account with an initial deposit of $700. What is the simple interest on the account?
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OpenStudy (anonymous):
ooooh thats easy! :) $973.70 - $700 = $273.70 $273.70 / 17years = $16.10 interest a year
OpenStudy (tkhunny):
Perhaps it means the RATE?
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