3 years ago

If a 3,500 investment earns 120 over 3 years, what is the annual rate?

Mathematics

1 answer:

Katarina [22]3 years ago

5 0

Answer:

The annual rate of interest is 2 %

Step-by-step explanation:

Given as :

The investment amount = $ 3,500

The Interest earn on investment = $ 210

The time period = 3 years

Let The annual interest rate = R

From simple interest method :

Simple Interest =

Or, 210 × 100 = 3500 × R × 3

Or, R =

HOPE THIS HELPED!!

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