Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?
Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?
Chapter7: Deductions And Losses: Certain Business Expenses And Losses
Section: Chapter Questions
Problem 30P
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Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?
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