Question

Mr. Brown opened a new account with a deposit of $4,000.

- The account earned annual simple interest. - He did not make any additional deposits or withdrawals.
- At the end of 4 years, the balance was $4,400. What is the annual interest rate on this account? O 5%
O 2.5%
O 10%
O 7.5%​

Answer 1

Answer= 10%
Fairly simple 4000x0.1=400 which was the amount of interest earned