Jacob invested $300 in a savings account and earned $81 in simple interest at the end of 9 years. what was the interest rate

A) 3%
B) 3.5%
C) 4%
D) 4.5%

Question

anthonyeverett101241 anthonyeverett101241

08-12-2018
Mathematics

contestada

Jacob invested $300 in a savings account and earned $81 in simple interest at the end of 9 years. what was the interest rate

A) 3%
B) 3.5%
C) 4%
D) 4.5%

Respuesta :

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wegnerkolmp2741o wegnerkolmp2741o · Answer 1 · 2018-12-08T01:09:30+01:00

wegnerkolmp2741o wegnerkolmp2741o

08-12-2018

Answer:

A) 3%

Step-by-step explanation:

I = P(RT)

I = interest

P = principle

r= rate

t = time

81 = 300 r * 9

81 = 2700*r

divide by 2700

81/2700 = r

.03 =r

multiply by 100 to get the percent

3 =r

Answer Link

tperezescajadillo tperezescajadillo · Answer 2 · 2018-12-08T01:14:22+01:00

tperezescajadillo tperezescajadillo

08-12-2018

Answer: A) 3%

Is the simple interest rate after 9 years

Step-by-step explanation:

Formula: Simple Interest: ⇒ $P*i%*n

P = Principal = $300

i = Simple interest rate: ?

n = period of time in years = 9 years

Earned Interes (simple interest sfter 9 years) = $81

Therefore:

$300*i%*9 = $81

i% = $81/($300*9) = $9/$300 = $3/$100 =0.03 = 3%

Answer Link

Jacob invested $300 in a savings account and earned $81 in simple interest at the end of 9 years. what was the interest rate A) 3% B) 3.5% C) 4% D) 4.5%

Respuesta :

Otras preguntas

Jacob invested $300 in a savings account and earned $81 in simple interest at the end of 9 years. what was the interest rate

A) 3%
B) 3.5%
C) 4%
D) 4.5%