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A deposit example uses an annual simple interest rate in decimal form of:
A0.0523
B0.0532
C0.0325
D0.0235
Answer & Solution
Correct answer: C. 0.0325
1. The amount deposited was $2,500.
2. The term of the investment was 3 years.
3. The rate in decimal form was 0.0325.
_Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
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