Lorraine invested $5500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she ear

Question

Katyanochek1 [597]

3 years ago

15

Lorraine invested $5500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she ear

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Mathematics

1 answer:

valina [46] · Answer 1 · 2022-06-27T21:56:50+03:00

valina [46]3 years ago

7 0

A formula for this is I=prt, your "i" is the interest so the way to set this up would be 5500=6%r9 you would multiple 6&9 then you should get 5500=54r. divide 54 and 5500 that should turn out to be 101. 85, rounded of course. Hope that helped.