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zhuklara [117]
4 years ago
6

A deposit of $10,000 was made to an account the year you were born. After 12 years, the account is worth $16,000. What simple in

terest rate did the account earn?
Mathematics
1 answer:
elena-14-01-66 [18.8K]4 years ago
5 0

Answer:

5\%

Step-by-step explanation:

You got $6000 more, so each year you gain $500. Now we calculate the percentage out of 10,000 to find the simple interest rate:

\frac{500}{10,000} = 0.05 \implies 5\%

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