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Over the last 4 years, James has earned $56 interest on a deposit of $280 that he made to his savings account. What is the simple annual interest rate for James' savings account?
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Over the last 4 years, James has earned $56 interest on a deposit of $280 that he made to his savings account. What is the simple annual interest rate for James' savings account?

User PhantomM
by
5.8k points

2 Answers

3 votes

Answer:

5.6%

Explanation:

User Stuart Brown
by
5.4k points
1 vote
Its $56 dollars
280-56=224
224÷4=56
User Alex Zhukovskiy
by
6.0k points
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