1. Questions

math

Mr. Flores opened an account with a deposit of $5,000

The account earned annual simple interest.
He did not make any additional deposits or withdrawals.
At the end of 4 years, the balance of the account was $6,500.

What is the annual interest rate on this account?

A) 5.8%
B) 7.5%
C) 3.3%
D) 1.9%

  1. 👍
  2. 👎
  3. 👁
E

  1. well, you know that
    5000(1+4r) = 6500
    so just find r

    1. 👍
    2. 👎
    oobleck

  2. 6500-5000=1500
    1500=5000*r*4
    Got the rest?

    1. 👍
    2. 👎
    Anonymous

  4. Whats the answer?

    1. 👍
    2. 👎
    Anonymous

  5. 1.9

    1. 👍
    2. 👎
    Venus

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math help! Check my answers ASAP!

    1. Which graph most likely describes the distance a person walks in a 24-hour period? (1 point) a. Graph IV** b. Graph II c. Graph I d. Graph III 2. A car traveling at 25 mi/h accelerates to 48 mi/h over the first 5 seconds. It

  2. algebra

    Four different accounts are described below. Order the accounts according to their values after 20 years, from greatest to least. 1.You deposit 1500$ in an account that earns 5% annual interest compounded quarterly. 2. You deposit

  3. math

    Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. A. how much does she have in her account at the end of 3 years? B. at what annual simple interest rate did the account

  4. math

    Mr. Jenkins deposited $1,250 into an account. He made no additional deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest on the money in the account. What was the balance in dollars and cents in Mr. Jenkins’s

  1. MATH

    Note: Enter your answer and show all the steps that you use to solve this problem in the space provided. Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. How much does

  2. Math- Interest Rates

    Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. A. how much does she have in her account at the end of 3 years? B. at what annual simple interest rate did the account

  3. Math

    Mona opened a savings account with a $500 deposit and a simple interest rate of 5.6%. If there were no deposits or withdrawals, how much money is in the account after 8/1/2  years

  4. math ( grade 6 )

    review my answers and please tell me if i got them right or wrong and if I get any wrong please explain the answer to me Donna deposits $275 into her savings account. she leaves the money in her account, untouched, for 6 years. if

  1. math

    You deposit $500 in an account that earns 4% simple annual interest. The interest earned each year is added to the principal to create a new principal. Find the total amount in your account after each year for 3 years.

  2. math

    Vanessa deposited money into a bank account that earned 1.25% simple interest each year. After 1/2 year, she had earned $5.00 in interest on the account. If no other money was deposited into or withdrawn from the account, how much

  3. Algebra

    Gwen has saved $3,500 and wants to deposit it into a savings account that earns 4% annual interest for 10 years. Complete the table below to help Gwen compare her earnings in a simple interest account versus a compound interest

  4. MATH

    1. An employee put $5,000.00 in a retirement account that offers 9% interest compounded annually. The employee makes no additional deposits or withdrawals. Which amount is closest to the interest the employee will have earned at

You can view more similar questions or ask a new question.