PLEASE HELP ASAP!! After 5 years, $8,060 deposited in a savings account with simple interest had earned $3,224 in interest. What was the interest rate?

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asked Sep 5, 2022 130k views

5 votes

PLEASE HELP ASAP!! After 5 years, $8,060 deposited in a savings account with simple interest had earned $3,224 in interest. What was the interest rate?

Mathematics
college

RajVimalC asked

by RajVimalC

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2 votes

Answer:

Explanation:

I = PRT

PRT = I

R = I/PT

R = 3224/(8060)(5)

R= 8%

Samya answered Sep 12, 2022

by Samya

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