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Money deposited $8000 into an account 6 years ago. The account earned simple interest at a yearly rate. So far the total interest is $1200. What is the rate for the account.

Respuesta :

Answer:

2.5%

Step-by-step explanation:

interest = principal * rate * time

1200 = 8000r6

1200 = 48000r

r = 0.025

Rate for account is 2.5%

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