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10. Mikayla opens a savings account with a principal balance of $3,000. After 5 years, she earns $450 in interest. Using the equation = rt , where = interest, = principal, = rate, and =time.

a) Write an equation for r.

b) What is the interest rate on Mikayla’s account after 5 y

Respuesta :

MrEquation
An equation for R would be:  R = I/(PT)

The rate on her account on will be 3%

R = I/(PT)
R = 450/(3000 x 5)
R = 450/15000
R = 0.03 or 3%

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