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Amelia earned $100 on a $1000 investment with a bank for a 3-year term. what rate did the bank offer her?
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Amelia earned $100 on a $1000 investment with a bank for a 3-year term. what rate did the bank offer her?

User Gary Gauh
by
4.1k points

1 Answer

6 votes

Answer:

3.33%

Explanation:

Rate = 100xSI / PxT

P = 1000

SI = 100

T = 3

Rate = 100 x 100 / 1000 x 3 = 3.33%

User Vidura Mudalige
by
3.5k points
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