SOLUTION: A retired couple invested $3000 in bonds. At the end of one year, they received an interest payment of $159. What was the simple interest rate of the bonds?
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Question 1052900: A retired couple invested $3000 in bonds. At the end of one year, they received an interest payment of $159. What was the simple interest rate of the bonds?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
3000*x = 159
x = (159/3000)*100 This will give you the %. Use your calculator, you should get 5.3%
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