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%

Question

Mathematics

Yair Fowler

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)

Know the Answer?

Nathan · Answer 1

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%

Taniya · Answer 2

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%

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%

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%