Determine the simple interest rate at which $1200 will grow to $1250 in 8 months.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 12PROB
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PROBLEM 13

Determine the simple interest rate at which $1200 will grow to $1250 in 8 months.

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