Ask Question
15 October, 10:49

I deposited 800 in my account a year later i get 56dollars in my account at what rate of intrest was i paid on my savings

+4
Answers (1)
  1. 15 October, 10:50
    0
    Total = Principal * (1 + rate) ^years since years = 1 then

    Total = Principal * (1 + rate)

    856 = 800 * (1 + rate)

    856 / 800 = (1 + rate)

    1.07 = (1 + rate)

    rate =.07 or 7%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “I deposited 800 in my account a year later i get 56dollars in my account at what rate of intrest was i paid on my savings ...” 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