Andrew M. answered • 03/16/16

Tutor

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Mathematics - Algebra a Specialty / F.I.T. Grad - B.S. w/Honors

For simple interest the formula is

I = Prt

I = interest earned

P = principal amount invested

r = interest rate

t = time

1650 = 6600(r)(5)

1650 = 33000r

r = 1650/33000

r = .05 = 5%