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Sagot :
Answer:
The percentage rate is 4.5%
Step-by-step explanation:
The simple interest earned in this situation is $1270 - $1000, or $270.
the simple interest formula is i =prt.
Here, i = $270 = ($1000)(r)(6 yr).
$270
Then r = ------------------- = 0.045
$1000(6 yr)
The percentage rate is 4.5%
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