Post a New Question

pre algerbra

posted by on .

susan bought a 6 month $1,700 certificate of deposit.At the end of six months she received $63 simple interest. what annual rate of interest did the certificate pay?

In a year then it would be 2 times $63

So $1700 times the rate of interest (we will call it X) will equal the interest.
Thus the equation

solve for x


or 7.4%

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question