Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Question

29-12-2017
Mathematics

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Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Respuesta :

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OreanWalter OreanWalter · Answer 1 · 2017-12-30T16:20:22+01:00

OreanWalter OreanWalter

30-12-2017

i would said it is Annual means yearly so you need to get the rate each year
156/5=31.2
31.2 Dollars every year
31.2/520=.06
.06*100=6% interest rate every year

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jewelsantana13 jewelsantana13 · Answer 2 · 2019-02-22T01:37:25+01:00

jewelsantana13 jewelsantana13

22-02-2019

Answer:the answer is 6%

Step-by-step explanation:

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Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest. If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Respuesta :

Otras preguntas

Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

If no money was deposited into or withdrawn from the account, what was the annual interest rate?