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PLEASE ANSWER 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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PLEASE ANSWER

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 JimmyJammed
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2 Answers

2 votes

Answer: 5%

Explanation:

User Ford Prefect
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4 votes

the answer would be 5% because 56 is 20% of 280 and thats 4 years so you divide by 4 which gets you 5%.

User UnionP
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