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If someone deposits $3,000 into a savings account, keeps the account open for 6 years, and ends up earning $720 in interest, what was the interest rate on the account?
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If someone deposits $3,000 into a savings account, keeps the account open for 6 years, and ends up earning $720 in interest, what was the interest rate on the account?

User Carlitos Way
by
5.0k points

2 Answers

8 votes

Answer:

$75.00

Explanation:

User Kristopolous
by
5.9k points
9 votes

Answer:

3750

Explanation:

User Cristobal Viedma
by
5.6k points
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