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Math  /  Math Statement

Question Find the simple interest rate rr for a loan with principal P=$2300P=\$2300, future value A=$2775A=\$2775, and duration t=3t=3 months.

Studdy Solution
Calculate the percentage rate rr.
r≈82.61% r \approx 82.61\%
The simple interest rate rr is approximately 82.61%82.61\% per year.

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