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Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn?
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Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn?

Diana invested $3000 in a savings account for 3 years. She earned $450 in interest-example-1
User Sphvn
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formula I=Prt 450= (3000) r (3) 450=9000r 450/9000=9000r 0.05=r

User Rvanlaak
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4 votes
So she invested $3000. 450 of 3000 would be 0.15 which is 15%. So in one year, interest rate would be 15% divided by 3 years = 5 %
Best of luck!
User Alphonse
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