A certificate of deposit pays $456.25 in simple interest for 1 yr on a principal of $36,500.
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A certificate of deposit pays $456.25 in simple interest for 1 yr on a principal of $36,500. What is the rate of interest?
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To find the rate of interest we can use the formula for simple interest Interest Principa...View the full answer
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Related Book For 
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
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