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Nicole had $7,424.24 in a savings account with simple interest. She had opened the account with $7,004 exactly 3 years earlier. What was the interest rate?
 

 Feb 16, 2018
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The interest over 3 years is $420.24 which is $140.08 per year

therefore the rate per year is

140.08/7004 = .02 and this is 2%

 Feb 16, 2018

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