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Ms. Zimmer invested $5000 on a CD for 8 months. She earned $120 interest. What is the rate of the CD?A.3%C.0.3%B.3.6%D.36%
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Ms. Zimmer invested $5000 on a CD for 8 months. She earned $120 interest. What is the rate of the CD?A.3%C.0.3%B.3.6%D.36%

User Rfanatic
by
5.2k points

1 Answer

3 votes
The rate is 0.3%

5000 x 0.003 = 15
15 x 8 = $120
User Force Bolt
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