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2590/2400 gives us 1.079166666666667, or a roughly 8% increase in that time.

If we want an 8% increase in 10 months with a simple (non-compounding) interest rate, then it must rise by 8/10 = 0.8% per month.

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Michael Scalise

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3y ago

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Q: Determine the simple interest rate at which $2400 will grow to $2590 in 10 month?
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