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ipn [44]
3 years ago
8

Marie earns $96 in interest each year on an investment what is the rate of simple interest if her principal was $800

Mathematics
1 answer:
Temka [501]3 years ago
5 0
\bf ~~~~~~ \textit{Simple Interest Earned}\\\\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\to &\$96\\
P=\textit{original amount deposited}\to& \$800\\
r=rate\to r\%\to \frac{r}{100}\\
t=years\to &\stackrel{each~year}{1}
\end{cases}
\\\\\\
96=800(r)(1)\implies \cfrac{96}{800}=r
\\\\\\
0.12=r\implies r\%=100\cdot 0.12\implies r=\stackrel{\%}{12}
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