SOLUTION: If the simple interest on ​$2000 for 9 years is ​$1620, then what is the interest​ rate?

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Question 992968: If the simple interest on ​$2000 for 9 years is ​$1620, then what is the interest​ rate?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
If the simple interest on ​$2000 for 9 years is ​$1620,
then what is the interest​ rate?
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I = P*r*t
----
1620 = 2000*r*9
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r = 0.09 = 9%
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Cheers,
Stan H.
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