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8 July, 20:05

My final balance after 48 months was$896.00. If I originally put $800.00 into

the bank, what was the interest raTe

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Answers (1)
  1. 8 July, 20:46
    0
    3 %.

    Step-by-step explanation:

    Ill work it out for simple interest:

    Simple interest

    I = PRT/100

    Here I = 96, R = ?, T = 4 years, P = 800

    96 = (800 * R * 4) / 100

    R = (96 * 100) / (4 * 800)

    = 3%.
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