95.4k views
0 votes
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 If no money was deposited or withdrawn from the account what was the annual interest rate?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
by
8.3k points

2 Answers

1 vote

It is 2.5 not what the other dude said it was

User Somejkuser
by
8.2k points
4 votes
Answer is 6.25 percent per year.
User Stefani
by
7.3k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories