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You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?

You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?
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3 votes
You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?

User Anthony Jack
by
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2 Answers

1 vote
$450 is the annual interest rate for the account
User Nikhil Soni
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8.0k points
7 votes
If you divide 1,800 by 4, you get 450.
User Jeffrey Wilges
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8.7k points
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