Ask Question
3 July, 15:04

Willie deposited $2500 into a savings account for which simple interest is calculated semiannually. If his $2500 grew to $2540 after 6 months, what is the yearly interest rate on Willie's account?

+4
Answers (1)
  1. 3 July, 15:11
    0
    Yearly is $80 (6 months being half a year)

    $80 is 3.2% of $2500

    Yearly interest rate is 3.2%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Willie deposited $2500 into a savings account for which simple interest is calculated semiannually. If his $2500 grew to $2540 after 6 ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers