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Diana invested $3,000 in a savings account for three years. She earn $450 in interest over that time period. what interest rate did she earn?

Diana invested $3,000 in a savings account for three years. She earn $450 in interest over that time period. what interest rate did she earn?
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Diana invested $3,000 in a savings account for three years. She earn $450 in interest over that time period. what interest rate did she earn?

User Gopal Sharma
by
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1 Answer

3 votes
Principal, present value, P = $3000
Interest (assumed simple) = $450
Time period = 3 years
Interest rate, i = $450/(3*$3000) = 0.05 = 5%
User Drublic
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