ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Camille invested $3, 000 into an account that earned annual simple interest. She made no additional deposits or withdrawals, and after 9 years she had earn $1, 755 in interest. What was the interest rate of the savings account?
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3.5%
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4.5%
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5.9%
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6.5%
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Explanation:
Detailed explanation-1: -she made no deposits or withdrawals, and after 9 yrs, she had earned $1755 in interest. what was the interest rate of the savings account? The annual percentage rate was 6.5 %.
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