Question

Andy currently has a balance of $4,585.92 in an account he has held for 21 years. He opened the account with an initial deposit of $3,278. What is the simple interest rate on the account? (2 points)

a.1.9%
b.1.4%
c.4.8%
d.6.7%

Answer 1

The closest answer I got was D. Add 4,585.92+3,278, because he initial deposited the money into the bank.