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  • 3 years ago

Newton currently has a balance of $1,716.18 in an account he has held for 29 years. He opened the account with an initial deposit of $784. What is the simple interest rate on the account?

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  1. Giest4life
    • 3 years ago
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    32.14% \[(1716.18-784)\div29 \approx 0.3214\]

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