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16 June, 14:15

An account earns simple interest. Find the annual interest rate.

I = $30

P = $250

t = 3 years

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  1. 16 June, 14:17
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    4% = r

    Step-by-step explanation:

    I = PRT

    where I is the interest, P is the principle R is the rate, T is the time

    30 = 250 * r * 3

    30 = 750r

    Divide each side by 750

    30/750 = 750r/750

    .04 = r

    Changing to percent form

    4% = r
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