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Populaire >

Lucia deposited 8,000 in a savings account with simple interest. Five years later, she had earned 1,200 in interest. What was the interest rate?

Solution

Lucia deposited 8, 000 in a savings account with simple interest. Five years later, she had earned 1, 200 in interest. What was the interest rate?

Solution

Rate : 3%

étapes des solutions

Translate the problem into an equation:

1200 = 8000 r \cdot 5

Solutionner pour

r, 1200 = 8000 r \cdot 5 : r = 3%

Rate : 3%

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