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25 April, 19:20

Kyle invested $130 in a savings account for 2 years. At the end of 2 years, his savings account had $161.20 in it. If $130 represents P, the principal amount, which percent represents the annual simple interest rate (r) that Kyle earned after the 2 year (t) period?

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  1. 25 April, 19:43
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    The annual simple interest rate is 62%.
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