A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $396. What was the simple interest rate of the bonds?

Do NOT round off a decimal answer.

Do NOT include a symbol with your answer.

Question

Mark Stevenson

10 December, 11:34

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Answers (1)

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Lainey Fitzpatrick · Answer 1

Lainey Fitzpatrick 10 December, 14:53

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That is an interest rate of 6.6%

A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $396. What was the simple interest rate of the bonds?Do NOT round off a decimal answer.Do NOT include a symbol with your answer.