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You invested $600 in a savings account that earns simple interest. After 20 years the account had earned $720 in interest. What was the interest rate on the account? Your answer can be in decimal or percent
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Feb 19, 2022
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You invested $600 in a savings account that earns simple interest. After 20 years the account had earned $720 in interest. What was the interest rate on the account? Your answer can be in decimal or percent form.
Mathematics
middle-school
Matthias Alleweldt
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1% interest
Explain: in 20 years interest = $120 120 divided by 20 = 6 so u get $6 each year for $600 so therefore u would get $1 per $100
which equals 1%
hope that helps!
January
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Feb 23, 2022
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