Daryl invested $2,200 for 3 years. He received interest of $264. What was the interest rate?

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drmallery drmallery · Answer 1 · 2021-06-28T17:58:06-04:00

Answer:

4%

Step-by-step explanation:

264 interest/3 years=88 interest/year

principal x interest rate =interest/year

2200 x interest rate =88

interest rate =88/2200

interest rate =.04 or 4%

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