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18.12.2019 •
Mathematics
Jaden deposited $9000 in a savings account with a simple interest .two years later the account held up $10,440 what is the interest rate
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Ответ:
Step-by-step explanation:
The simple interest formula is
I = Prt, where I is the interest earned, P is the initial investment, r is the interest rate in decimal form, and t is the time in years. We have that after 2 years, 9000 has turned into 10440. That means that the total interest earned was 10440 - 9000 = 1440
I = 1440
P = 9000
r = ?
t = 2
Filling in we have
1440 = 9000(r)(2) and
1440 = 18000r so
r = .08
As an interest rate, we multiply this by 100 to get 8%
Ответ: