Post a New Question
posted by Ryan on Monday, February 18, 2013 at 7:45pm.
Chris deposited $1,500 in a bank account for 2 years. The account earned $120.00 in simple interest. What simple interest rate did he receive?
I = PRT 120 = 1,500 * R * 2 120 = 3,000R 120/3,000 = R 0.04 = R
More Related Questions