nataly889 nataly889
  • 04-05-2021
  • Mathematics
contestada

A savings account starts with $250. It earns $30 in 2 years. Find the
rate of interest

Respuesta :

altavistard
altavistard altavistard
  • 05-05-2021

Answer:

The annual interest rate is 6%

Step-by-step explanation:

Use the formula for simple interest:  i = prt.

Set i = prt equal to $30:  $30 = prt

Solve this for r:

         $30

r = -------------- = ($30) / ($500)  = 0.06

      $250(2)

The annual interest rate is 6%

Answer Link

Otras preguntas

What was the South’s greatest concern when California applied for statehood?
When MgCO3(s) is strongly heated, it produces solid MgO as gaseous CO2 is driven off.Does the oxidation number of carbon change upon the formation of CO2?
let g(x)=x-3 and h(x)=x^2+6 find (h o g) (1)
When MgCO3(s) is strongly heated, it produces solid MgO as gaseous CO2 is driven off.Does the oxidation number of carbon change upon the formation of CO2?
wats the 60% off a prize that is $20.00
Tennis balls with a diameter of 2.5 in. are packaged 3 to a can. The can is a cylinder. Find the volume of the space in the can that is not occupied by tennis b
What is the probability of someone correctly guessing your Social Security number? (Assume all digits 0-9 are available for use)a
List all integers between -0.6 and 4.17 THANK U
You shoot an arrow set a target. The parabolic path of the arrow passes through the points shown in table. X. Y 30. 6 60. 7 100. 4 A. Find a quadratic function
What are the operation sines that make this statement correct? 3_5_7_18_3=14