If George put $600 in a savings account at a simple interest rate for each year. What was his interest rate, r, if after 3 years
1 answer:
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Answer:
70%
Step-by-step explanation:
First, convert 0.3 into a percentage;
To do so, convert it 0.3 into a fraction then multiply by 100;
0.3 into a fraction = 3/10
3/10 into a percentage =
The 10 at the bottom cancels out one zero at the top and you are left with 30.
Therefore percentage in Carlos' monthly savings is = 30%
Next, calculate the percentage NOT put in savings
percentage NOT put in savings = 100% - percentage in savings;
That is ; 100% -30% =70%
Hence, 70% of his income is not put into savings.