MATH SOLVE

5 months ago

Q:
# Julio invested $2,000 in a simple interest account for 3 years.She had earned $150 in interest by the end. What is the simple interest rate of the account?

Accepted Solution

A:

The formula is

R=I/pt

R interest rate?

I interest earned 150

P principle 2000

T time 3 years

R=150Γ·(2,000Γ3)

R=0.025 Γ 100

R=2.5%

Hope it helps!

R=I/pt

R interest rate?

I interest earned 150

P principle 2000

T time 3 years

R=150Γ·(2,000Γ3)

R=0.025 Γ 100

R=2.5%

Hope it helps!