Question

Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=prt to find your answer, where I is interest, P is principal, R is rate and T is time. Enter your solution in decimal form rounded to the nearest hundredth. For example, if your solution is 12%, you would enter 0.12

Answer 1

Answer:

r = i/pt

r =450/3000*3

r =0.05*100=5%