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Mathematics 18 Online
OpenStudy (anonymous):

After 2 years, Deion earned $270 in simple interest from a CD into which he initially deposited $6000. What was the annual interest rate of the CD?

OpenStudy (crashonce):

Because it is simple interest, we can just divide 270 by 6000 which will give us 27/6% = 4.5% simple interest per annum

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