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Mikayla opens a savings account with a principal balance of $3,000. After 5 years, she earns $450 in interest. Using the equation I=prt, where I=interest, p= principal, r=rate, and t=time.

What is the interest rate on Mikayla's account after 5 years?

User Joe Taylor
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2 Answers

5 votes
after 5 yrs her interest  is $337.50
User Michael Petch
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2 votes
l=prt=3000*450*5=6750000

Hope this help!
User Cwahls
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