Jason invests money in an account paying simple interest. He invests $160 and no money is added or removed from the investment.

Question

3 years ago

12

After one year, he has $164.80. What is the simple percent interest per year?

2 answers:

Step2247 [10] · Answer 1 · 2022-10-28T12:43:49+03:00

8 0

Answer:

The answer is 3%

Step-by-step explanation:

1.) $160 divided by $164.80 = 1.03

2.) 1.03 x 100 = 103

3.) 103 - 100 = 3

4.) 164.80 - 160 = 4.80

5.) 4.80 divided by 160 = 0.03

6.) 0.03 x 100 = <em>3%</em>

natita [175] · Answer 2 · 2022-10-28T11:12:40+03:00

6 0

Answer: 1.03% Explanation: Divide the amount of money after 1 year by his original investment.