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Find the annual interest rate. Round your answer to the nearest hundredth of a percent.
I = $160.67, P = $2000, t = 8 months
The annual interest rate is %

Find the annual interest rate Round your answer to the nearest hundredth of a percent I 16067 P 2000 t 8 months The annual interest rate is class=

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jaemc
160.67 = 2000*8*r
So 160.67 = 16000r
Then divide 16000 on both sides 160.67/16000 =r/16000
0.01=r

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