you received $101 and received $106.05 after one year . what was the intrest rate​

Question

you received $101 and received $106.05 after one year . what was the intrest rate​

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Peyton 2 months 2021-08-14T03:02:05+00:00 1 Answer 0 views 0

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    2021-08-14T03:03:41+00:00

    Answer :

    5%

    Step-by-step explanation:

    106.05-101=5.05

    106.05-101=5.055.05/101=0.05 or 5%

    106.05-101=5.055.05/101=0.05 or 5%Checking:

    106.05-101=5.055.05/101=0.05 or 5%Checking:101*5%= 5.05

    106.05-101=5.055.05/101=0.05 or 5%Checking:101*5%= 5.05101+5.05=106.05

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