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nacariahearns
02.10.2019 •
Mathematics
Asum of $9, 000 paid into a bank account for two months (61 days) to attract simple interest will produce $9, 020 at the and of the term. find the interest rate r and the return on this investment
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Ответ:
Rate of interest will be 1.33 %
Return on this investment =
%
Step-by-step explanation:
We have given principle amount P = $9000
Time = 61 days =![\frac{61}{365}=0.167\ years](/tpl/images/0284/4822/7b3ea.png)
We have to find the rate of interest
Total amount produce at the end of term = $9020
So interest = $9020 - $9000 = $20
We know that simple interest![=\frac{principle\ amount\times rate\times\ time}{100}](/tpl/images/0284/4822/0fec2.png)
Return on this investment =
%
Ответ:
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