Mr. Brown

Mr. Brown invested 15,000 euros in the bank for an annual term deposit. After the first year, he gained 600 euros. What was the annual interest rate of his deposit?

Correct answer:

p =  4 % pa

Step-by-step explanation:

a=15000 Eur i=600 Eur  p=100 ia=100 60015000=4%pa



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