Question 732326
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Tela  invests $1500 in a year certificate of deposit. At the end of 1 year, her balance is $1530. 
What is the simple annual interest rate?
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<pre>
The simple interest is  {{{((1530-1500)/1500)*100}}} = {{{(30/1500)*100}}} = 0.02*100 = 2%.    <U>ANSWER</U>
</pre>

Solved.


The answer in the post by @lynnlo is incorrect.


Simply ignore his post.