SOLUTION: If you invested $4,795, and you receive $195 in interest, what annual interest rate did you receive on your investment?
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Question 469638: If you invested $4,795, and you receive $195 in interest, what annual interest rate did you receive on your investment?
Answer by ccs2011(207) (Show Source): You can put this solution on YOUR website!
Interest earned = Principal * interest rate
Divide by 4795 on both sides
As percentage, multiply r by 100
R = 4.07%
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