NEED ASAP!! using simple interest rate formula- mandy deposited 600 into an account that earns simple interest and after 4 years the value of the account was 672$ what was the simple interest rate?

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asked Sep 28, 2021 208k views

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NEED ASAP!!

using simple interest rate formula- mandy deposited 600 into an account that earns simple interest and after 4 years the value of the account was 672$ what was the simple interest rate?

Mathematics
middle-school

Yuri Yaryshev asked

by Yuri Yaryshev

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Answer:

The simple interest rate is 3%

Explanation:

Every year, $18 is added to the deposit. 3% of 600 is 18.

Melculetz answered Oct 4, 2021

by Melculetz

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