Register
You have a principal balance in your savings account of $1200. After 1 year, you earn $24 of interest. What is the interest rate?
153k views
0 votes
You have a principal balance in your savings account of $1200. After 1 year, you earn $24 of interest. What is the interest rate?

User Lova
by
6.4k points

1 Answer

4 votes
1200x=24
x=24/1200
x=.02
So the answer is 2%
User Thedric Walker
by
6.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.1m questions

9.5m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
Please solve the following equation. x-6x=56
whats the most accurate estimation of 65+77
Find the additive inverse of 18/23
What is 25% of 500.00
Link Copied!