Marshall deposited $3,300 in a savings account with simple interest. Six months later, the account held $3,415.50. What was the

Question

2 years ago

15

Marshall deposited $3,300 in a savings account with simple interest. Six months later, the account held $3,415.50. What was the

interest rate?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Mathematics

1 answer:

Naya [18.7K] · Answer 1 · 2022-07-06T05:53:58+03:00

Naya [18.7K]2 years ago

4 0

the simple interest is granted by the end of the year probably.If in 1/2 a year he gathered $115.50 then

115.50=3.300×r/2

r=231/3300

r=7%