A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $396. What was the simple interest rate of the bonds? Do NOT round off a decimal answer. Do NOT include a symbol with your answer.

That is an interest rate of 6.6%

Answered by miller5 | 2024-06-10

**Answer: **Simple interest Rate = 6.6% ;

Answered by oladejotunde600 | 2024-06-12

The simple interest rate of the bonds is 6.6%. This is calculated using the formula for simple interest by substituting the known values of principal and interest received. The rate is determined to be 6.6% after solving the equation for R.
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Answered by oladejotunde600 | 2024-12-20