SOLUTION: A retired couple invested $12000 in bonds. At the end of one year, they received an interest payment of $804. What was the simple interest rate of the bonds?

SOLUTION: A retired couple invested $12000 in bonds. At the end of one year, they received an interest payment of $804. What was the simple interest rate of the bonds?

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Question 964498: A retired couple invested $12000 in bonds. At the end of one year, they received an interest payment of $804. What was the simple interest rate of the bonds?

Answer by macston(5194) (Show Source): You can put this solution on YOUR website!
.
($804/$12000)(100%)=6.7%
ANSWER: The simple interest rate was 6.7%.
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