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An engineer invested $\$10,\!000$ in a six-month savings certificate that paid a simple annual interest rate of $12\%$. After six months, she invested the total value of her investment in another six-month certificate. After six more months, the investment was worth $\$11,\!130$. If the annual interest rate of the second certificate is $r\%,$ then what is $r?$

 Feb 14, 2021
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*** edited  ***

 

11 130 =(10000 + 10000*.12 /2 ) *   (1+r/2) 

             where r is in decimal form %

 

r =10 %

 Feb 14, 2021
edited by ElectricPavlov  Feb 14, 2021
edited by ElectricPavlov  Feb 14, 2021

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