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27 of 30 (27 complete) X Simple Interest-4 (similar to) Questi Aman needed money to buy lawn equipment. He borrowed $500.00 for eight months and

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27 of 30 (27 complete) X Simple Interest-4 (similar to) Questi Aman needed money to buy lawn equipment. He borrowed $500.00 for eight months and paid $53.94 in interest. What was the rate of interest? The rate of interest per year was %. (Round to one decimal place as needed.)

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