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2 March, 04:43

10. Mikayla opens a savings account with a principal balance of $3,000. After 5 years, she earns $450 in interest. Using the equation = rt, where = interest, = principal, = rate, and = time.

a) Write an equation for r.

b) What is the interest rate on Mikayla's account after 5 y

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  1. 2 March, 07:50
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    An equation for R would be: R = I / (PT)

    The rate on her account on will be 3%

    R = I / (PT)

    R = 450 / (3000 x 5)

    R = 450/15000

    R = 0.03 or 3%
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Home » Mathematics » 10. Mikayla opens a savings account with a principal balance of $3,000. After 5 years, she earns $450 in interest. Using the equation = rt, where = interest, = principal, = rate, and = time. a) Write an equation for r.
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