rainajordan15 rainajordan15

24-03-2024
Mathematics

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you deposit $600 into a savings account that earns simple interest, after 5 years your balance is $750 what is the simple interest rate

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jsimpson11000 jsimpson11000

24-03-2024

Answer:

Step-by-step explanation:

Interest earned = 750 - 600 = $ 150

Interest = principal * decimal rate * years

$ 150 = 600 * i * 5

150 / ( 600* 5) = i = .05 which is 5%

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