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Raul deposited $3000. Into a checking account that earned simple interest rate each year. After 3.5 years he earned $262.50 in interest. If no money was deposited or withdrawn f…

Raul deposited $3000. Into a checking account that earned simple interest rate each year. After 3.5 years he earned $262.50 in interest. If no money was deposited or withdrawn f…
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Raul deposited $3000. Into a checking account that earned simple interest rate each year. After 3.5 years he earned $262.50 in interest. If no money was deposited or withdrawn from the account what was the annual interest rate?

User Wu Zhou
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2 Answers

1 vote

It is 2.5 not what the other dude said it was

User Somejkuser
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8.2k points
4 votes
Answer is 6.25 percent per year.
User Stefani
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