Mathematics, 29.01.2021 04:30 richdakid26
harry purchased a 600$ savings bond if he has 1200 in total in the bank at the end of 10 years what was the simple interest rate
Answer from: RiddleMeThis
R = 10%/year
Equation:
r = (1/t)(A/P - 1)
Solving our equation:
r = (1/10)((1200/600) - 1) = 0.1
r = 0.1
Converting r decimal to R a percentage
R = 0.1 * 100 = 10%/year
The interest rate required to get a total amount, principal plus interest, of $1,200.00 from simple interest on a principal of $600.00 over 10 years is 10% per year.
Step-by-step explanation:
so he has 600 $ saving then if he has 1,200 total in the bank
Answer from: Quest
news channels,news papers,and the internet
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umumumumum
im not sure
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harry purchased a 600$ savings bond if he has 1200 in total in the bank at the end of 10 years what...
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