Mika opened a bank account that earns simple interest with an initial deposit of $2,200.
She made no other transactions throughout the year. At the end of the year, Mika had $2,260.50 in her account.
What was the simple interest rate?
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Answer:
Mika opened a bank account that earns simple interest with an initial deposit of $2,200. She made no other transactions throughout the year. At the end of the year, Mika had $2,260.50 in her account.
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