KaaeeE KaaeeE
  • 19-04-2020
  • Mathematics
contestada

My final balance after 48 months was$896.00. If I originally put $800.00 into
the bank, what was the interest raTe

Respuesta :

PollyP52 PollyP52
  • 19-04-2020

Answer:

3 %.

Step-by-step explanation:

Ill work it out for simple interest:

Simple interest

I = PRT/100

Here I = 96, R = ?, T = 4 years, P = 800

96 = (800 * R * 4) / 100

R =  (96* 100) / (4 * 800)

= 3%.

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