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Shalnov [3]
3 years ago
9

After 1 year, $800 deposited in a savings account with simple interest had earned $64 in

Mathematics
1 answer:
stepan [7]3 years ago
7 0

Answer:

8%

Step-by-step explanation:

We will use the equation provided to solve this problem.

I=Prt

Lets plug in the values:

64=800x(1)     First, divide both sides by 800.

.08=x(1)         Multiply x by 1

x = .08

Now, we multiply .08 by 100 to get our interest rate:

(.08)100 = 8

The interest rate is 8%

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