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22-03-2021
Mathematics

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Find the annual interest rate. i=$160, P=2000, t=8 months

Respuesta :

22-03-2021

Answer:

0.12 or 12%

Step-by-step explanation:

I=Prt

r= I/(Pt)

r = 160/(2000 x 8/12)

r = 160/(4000/3)

r = 3/25

r = 0.12

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