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OpenStudy (anonymous):
Sebastian's parents agree to lend him two hundred dollars for some gaming equipment, as long as he pays them back two hundred fifty dollars in a year's time. What is the rate of simple annual interest in this arrangement?
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OpenStudy (anonymous):
about $12 - $13. 50 a month
OpenStudy (texaschic101):
I = PRT 50 = (200)(R)(1) 50 = 200R 50/200 = R 0.25 = R 25% interest rate you might need a second opinion on this
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