Ask Question
3 October, 16:07

Jack deposited $1,400 in his bank account. After 3 years, the account earned

$294 in interest. Find the simple

interest rate.

+1
Answers (1)
  1. 3 October, 17:05
    0
    his intrest rate is 7%

    Step-by-step explanation:

    294/1400=0.21

    0.21/3 years = 0.07

    0.07=7%

    1400*0.07=98

    98*3 years = 294
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Jack deposited $1,400 in his bank account. After 3 years, the account earned $294 in interest. Find the simple interest rate. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers