Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Explore thousands of questions and answers from a knowledgeable community of experts on our user-friendly platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

You put $10,000 in a simple interest account at a bank. You will earn $1,800 in just 4 years. What is the annual interest rate for the account?

Sagot :

W0lf93
We have to calculate the annual interest rate for the account. Formula for the simple interest is : I = P * r * t, where P is the investment, r is the annual interest rate and t is time in years. In this case: 1,800 = 10,000 * r * 4; 1,800 = 40,000 * r; r = 1,800 : 40,000; r = 0.045, or 4.5 %. Answer: The annual interest rate is 4.5 %.

Answer:

the answer is 4.5% HOPE IT HELPS:)

Step-by-step explanation:


Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.