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=https://www-awu.aleks.com/alekscgi/x/isl.exe/1o_u-IgNslkr7j8P5jH-10QhUODya094wj2guSkib9ag● RATIOS, PROPORTIONS, AND PERCENTSFinding the principal, rate, or time of a simple interest loan or...1%Christine invested $7000 in a fund for 5 years and was paid simple interest. The total interest that she received on the investment was $1750. As a percentage,what was the annual interest rate of her investment?If necessary, refer to the list of financial formulas.I need help with this math problem.

httpswwwawualekscomalekscgixislexe1ouIgNslkr7j8P5jH10QhUODya094wj2guSkib9ag RATIOS PROPORTIONS AND PERCENTSFinding the principal rate or time of a simple intere class=

Respuesta :

Remember that

The simple interest formula is equal to

[tex]I=Prt[/tex]

where

P=$7000

I=$1750

t=5 years

substitute given values

[tex]\begin{gathered} 1750=7000(5)(r) \\ solve\text{ for r} \\ r=\frac{1750}{7000(5)} \\ \\ r=0.05 \\ Convert\text{ to percentage} \\ 0.05*100=5\% \end{gathered}[/tex]

therefore

The answer is 5%

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