SOLUTION: If you put $600 in a savings account for 10 years and received $35 in simple interest, what was the annual interest rate for the account?
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Question 929626
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If you put $600 in a savings account for 10 years and received $35 in simple interest, what was the annual interest rate for the account?
Answer by
rfer(16322)
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I=Prt
35=600*r*10
35/6000=r
r=0.0058=0.58%