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A Principal of $790 Grew to $1,000 in 14 Months

Question 197

Multiple Choice

A principal of $790 grew to $1,000 in 14 months. What annual rate of simple interest was earned?

A) 1.89%
B) 15.23%
C) 9.67%
D) 18.00%
E) 22.78%

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