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Mae currently has a balance of $8,484.79 in an account earning simple interest. Seventeen years ago she opened the account with an initial deposit of $4,854. What is the interest rate on the account? 4.
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Mae currently has a balance of $8,484.79 in an account earning simple interest. Seventeen years ago she opened the account with an initial deposit of $4,854. What is the interest rate on the account?

4.4%

2.5%

10.3%

5.9%

User Saurabh Garg
by
9.1k points

1 Answer

3 votes
8484.79-4854=3,630.79,,3630.79=4854*17 r,,r=4.4%
User Crazybilly
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8.5k points
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