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Lester made $5,200 in interest by placing $20,000 in a savings account with simple interest for 2 years. What was the interest rate?

Lester made $5,200 in interest by placing $20,000 in a savings account with simple interest for 2 years. What was the interest rate?
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Lester made $5,200 in interest by placing $20,000 in a savings account with simple interest for 2 years. What was the interest rate?

User Nizammoidu
by
8.2k points

1 Answer

5 votes
5200 / 20,000 x 2


Calculate


Solution: 0.13 or 13%
User Krakig
by
7.6k points
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