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what is the simplest interest rate if $126.77 in interest is earned on a deposit of $1434.85 in one year?
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2 votes
what is the simplest interest rate if $126.77 in interest is earned on a deposit of $1434.85 in one year?

User Sukima
by
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1 Answer

2 votes

Answer:

9%

Explanation:

Principal x interest rate=yearly interest

1434.85 x interest rate =126.77

interest rate = 126.77/1434.85

interest rate=.088 or 9%

User PKV
by
5.3k points
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