Alexandram7761 Alexandram7761

Today at 5:49 PM
Mathematics

Answered

Derek deposited $3,000 in simple interest account 3years ago. He had earned $360 in interest so far. What is the interest rate for his account?

Answer :

drmallery drmallery

Today at 5:54 PM

Answer:

4%

Step-by-step explanation:

He earned 120/year (360/3-120)

determine interest rate

120/3000=.04 0r 4%

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