Jackie received $5,000 as a prize. She invested her money into a certificate of deposit for 8 years. When she redeemed the

Question

Jackie received $5,000 as a prize. She invested her money into a certificate of deposit
for 8 years. When she redeemed the certificate of deposit, she received $6,200. What
simple interest rate did she receive on her certificate of deposit?
Provide the numerical solution rounded to two decimal places for the percent. You do
not need to include the % symbol.

Kunduz · Accepted Answer

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