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14 December, 20:58

Rita deposited $500 in a savings account earning simple interest. She made no other deposits or withdrawals. After 3 years, the account is worth $533.75. What is the interest rate on the account

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Answers (2)
  1. 14 December, 21:19
    0
    The interest rate is $11.25 per year.

    Step-by-step explanation:

    You divide $33.75 (the money added from interest) by 3 and you get $11.25

    :)
  2. 14 December, 21:21
    0
    Interest rate is 2.25%

    Step-by-step explanation:

    Formula: I = P. r. t

    so rate + I/P/t
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