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Popular Word Problems >

You deposit 600 in an account. The account earns 45 simple interest in 2 years. What is the annual interest rate?

Solução

Y o u d e p os i t 600 in an a cco u n t . T h e a cco u n t e a r n s 45 s im pl e in t eres t in 2 ye a rs . Wha t i s t h e ann u a l in t eres t r a t e ?

Solução

Rate : 3.75%

Passos da solução

Translate the problem into an equation:

45 = 600 r \cdot 2

Resolver para

r, 45 = 600 r \cdot 2 : r = 3.75%

Rate : 3.75%

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