Ask Question
30 August, 13:06

Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What simple interest rate did the account earn?

Select the best answer from the choices provided.

3%

5%

7%

11%

+2
Answers (2)
  1. 30 August, 13:50
    0
    I = PRT

    I = 787.50

    P = 750

    T = 15

    now we sub and find R (the rate)

    787.50 = (750) (r) (15)

    787.50 = 11250r

    787.50 / 11250 = r

    0.07 = r

    0.07 x 100 = 7% = R

    answer is 7%
  2. 30 August, 15:45
    0
    I = PRT

    I = 787.50

    P = 750

    T = 15

    now we sub and find R (the rate)

    787.50 = (750) (r) (15)

    787.50 = 11250r

    787.50 / 11250 = r

    0.07 = r

    0.07 x 100 = 7% = R

    answer is 7%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Kenneth deposited $750.00 into an account and fifteen years later, the account had earned $787.50 in interest. What 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