Over the last 4 years, Michael has earned $240 interest on an initial investment of $2,000. What simple annual interest rate is the bank paying on this account?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked May 8, 2019 35.7k views

5 votes

Over the last 4 years, Michael has earned $240 interest on an initial investment of $2,000. What simple annual interest rate is the bank paying on this account?

Mathematics
middle-school

CABascourt asked

by CABascourt

5.4k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

4 votes

Answer:

Explanation:

Arry answered May 10, 2019

by Arry

5.8k points

0 Comments

Please log in or register to add a comment.

5 votes

the simple interest rate was 0.3 or just 3%

Andrzej Purtak answered May 15, 2019

by Andrzej Purtak

5.1k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.8m questions

7.5m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

0 Comments

Please log in or register to add a comment.

0 Comments

Please log in or register to add a comment.

Other Questions