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Mathematics 12 Online
rerelove100:

After 3 years, a $1,500 investment is worth $1,680. What is the interest rate on the investment?

darkknight:

\[1500(1+x)^3=1680\] Would be the equation of the interest. We want to solve for x, which gives us the rate, So divide both sides by 1500. Then take the cube root of both sides, then subtract 1, and you should get x in a decimal, convert to a fraction from there. lmk if you are stuck :)

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