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Bumek [7]
3 years ago
9

You deposited $4500 dollars in a savings account that earns a simple interest rate. What interest rate do you need to be paid, i

f you require $5445 after 7 years.
Mathematics
1 answer:
irina [24]3 years ago
7 0
5445 = 4500 i * 7
5445 = 31500i
i = 5445/31,500
i = 0.1729

i = 17.29%

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Hi there! Hopefully this helps!

-----------------------------------------------------------------------------------------------------------

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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|

\/

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