Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

=) Asif deposits $650 into a bank paying a simple interest. He leaves the money there
for 5 years. At the end of the 5 years, the amount in the bank is $763.75.
Calculate the percentage rate of interest the bank paid per year.

Sagot :

gyaniadithya

Answer:

interest he got per year is 22.75

Step-by-step explanation:

deposited money = 650

after 5 years = 763.75

interest he got = 763.75 - 650

                         = 113.75

interest he got each year = 113.75 / 5

                                          = 22.75

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.