Monica made $500 in simple interest on an investment of $4000 over 2 years. = Prt to find the rate of interest she was paid. Use the formula I

PREALGEBRA
15th Edition
ISBN:9781938168994
Author:OpenStax
Publisher:OpenStax
Chapter6: Percents
Section6.4: Solve Simple Interest Applications
Problem 223E: In the following exercises, solve the problem using the simple interest formula. Find the rate if a...
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- Monica made $500 in simple interest on an investment of $4000 over 2 years.
Use the formula I
Prt to find the rate of interest she was paid.
Transcribed Image Text:- Monica made $500 in simple interest on an investment of $4000 over 2 years. Use the formula I Prt to find the rate of interest she was paid.
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