Edward invested $1600 in a savings account for 8 years. At the end of 8 years, his savings account had $1920 in it. If $1600 represents P, the principal amount, which percent represents the annual sim

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Edward invested $1600 in a savings account for 8 years. At the end of 8 years, his savings account had $1920 in it.

If $1600 represents P, the principal amount, which percent represents the annual simple interest rate (r) that Edward earned after the 8 year (t) period?

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