Ask Question
5 November, 11:13

Raul deposited 3000 into the bank account that earned simple interest each year after 3.5 years he had earned 262.50 in interest if no money was depositied into or withdrawn from the account what was the annual interest rate

+4
Answers (2)
  1. 5 November, 11:23
    0
    3,000 * 3.5 * i = 262.50

    10,500 i = 262.50

    i = 262.50 / 10,500

    i = 0.025

    0.025 = 2.5%

    answer: annual interest rate was 2.5%
  2. 5 November, 11:42
    0
    This one is kinda confusing i thing you would divide and get the annual interest rate
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Raul deposited 3000 into the bank account that earned simple interest each year after 3.5 years he had earned 262.50 in interest if no ...” 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