Ask Question
29 September, 15:59

Mei-ling invested $2,000 in a simple interest account for 3 years. At the end of 3 years, she had earned $150 in interest. What was the simple interest rate of the account?

+4
Answers (1)
  1. 29 September, 19:25
    0
    2.5%

    Step-by-step explanation:

    Simple Interest formula : V = P + P*r*t

    I = Prt

    $150 = $2000*r * 3

    r = $150 / ($2000*3) = 5/200 = 0.025 = 2.5%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Mei-ling invested $2,000 in a simple interest account for 3 years. At the end of 3 years, she had earned $150 in interest. What was the ...” 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