A bank account has a beginning balance of $560.00. After 6 months, the balance in the account has increased to $572.60. What interest rate is being earned annually on this account? A. .045% B.2.20% C.2.

asked Apr 11, 2017 5.7k views

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Answer:

a .045

Explanation:

Jeangelj answered Apr 13, 2017

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Interest = $572.60 - $560.00 = $12.60

$560 x 6i/12 = $12.60

i = ($12.60 x 12) / ($560 x 6) = 0.045%

Ken Schumack answered Apr 16, 2017

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