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Sophia invests money in an account paying simple interest. She invests $70 and no money is added or removed from the investment. After one year, she has $72.80. What is the simple percent interest per year?

Sagot :

Qvantum

Answer:

72.80= 70(x)^1

x^1 is still x, so leave it at 72.8= 70x
divide 70 from both sides to leave x by itself

x= 1.04
4% interest is payed annually.

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