Question

Maria earned $126 in simple interest from her savings account. If she invested $450 for 7 years, what was the interest rate?

4%

4.5%

3.5%

5%
​

Answer 1

answer is 4%

Explanation:

use formula Interest = Principal x Rate x Time

126 = 450 · 7 · r

126 = 3150 r

r = .04