SOLUTION: If you invested $7,363, and you receive $370 in interest, what annual interest rate did you receive on your investment? If necessary, round your answer to the nearest hundredth.

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Question 466639: If you invested $7,363, and you receive $370 in interest, what annual interest rate did you receive on your investment? If necessary, round your answer to the nearest hundredth.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I/(Pt)=r
370/7363=0.05=5%