SOLUTION: Braun invested R8350 in an account that pays simple interest.AFter six years,the accumulated amount was R12859.what was the simple interest rate on this investment?

Question 1148631: Braun invested R8350 in an account that pays simple interest.AFter six years,the accumulated amount was R12859.what was the simple interest rate on this investment?
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
.


8350 + 8350*r*6 = 12859    dollars


8350*6*r        = 12859 - 8350


8350*6*r        = 4509


r               =  = 0.09.


ANSWER.  Simple interest rate is 9% per annum.

Solved.

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