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Jude deposited $550 into an account that earns simple interest, and after 11 years, the interest in the account was $484. What was the simple interest rate?

Jude deposited $550 into an account that earns simple interest, and after 11 years, the interest in the account was $484. What was the simple interest rate?
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Jude deposited $550 into an account that earns simple interest, and after 11 years, the interest in the account was $484. What was the simple interest rate?

User Acuminate
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1 Answer

9 votes

Answer:

8% interest rate

Explanation:

User Retrovius
by
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