SOLUTION: You deposited $2,500 a year ago. Today, you received your interest payment for $275. How much interest did you receive for the year?

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Question 206988: You deposited $2,500 a year ago. Today, you received your interest payment for $275. How much interest did you receive for the year?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
2500*i=275
i=275/2500
i=.11 or 11% interest.