Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Scarlet deposited $500 in a savings account with simple interest. One year later she had earned $30 in interest. What was the interest rate?

Sagot :

clarch19

Answer:

6%

Step-by-step explanation:

Interest = Principal x Rate x Time (in years)

30 = 500r

r = 3/50 or 6/100 which is 6%

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.