Question

Beth put $8,000 in a savings account. At the end of a year the account had earned $72 in interest. What was the yearly interest rate on the account?

Please help!!

Answer 1

the yearly interest rate is .90%
to get this you need p=r*b
percent is p
rate is 72 and the base is 8000
set it up as a fraction
72/8000=x/100
cross-multiply 72 by 100 and then divide by 8000