you invest 2000 in a simple interest account. The balance after 8 years is 2720. What is the interest rate?

4.5%

Step-by-step explanation:

Find interest rate by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

I = $720, P = $2000 and t = 8 years, so

I = P*i*t

i = I/P*t

i = 720 / 2000 * 8

i = 0.045 = 4.5% per year