Suppose you invested $1200 for 6 years. You earned $396 in simple interest at the end of the 6 years what is the annual interest rate
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Step 1
Step 1:** Calculate the total interest earned over 6 years by subtracting the initial investment from the final amount: Total amount = Initial investment + Total interest Total amount = $1200 + $396 = $1596 ** Show more…
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