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    Finite Mathematics
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    Exam 5: Mathematics of Finance
  5. Question
    A Bank Deposit Paying Simple Interest Grew from an Initial
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A Bank Deposit Paying Simple Interest Grew from an Initial

Question 96

Question 96

Short Answer

A bank deposit paying simple interest grew from an initial sum of $1,000 to a sum of $1,075 in 9 mo. Find the interest rate.
r = __________ %/year

Correct Answer:

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