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Aneli [31]
3 years ago
15

After 4 years, Aspen earned $510 in simple interest from a CD into which she initially deposited $3000. What was the annual inte

rest rate of the CD?
Business
2 answers:
Montano1993 [528]3 years ago
7 0
So, the interest rate will be undefined, we'll name the variable n.
4n(3000) = 510
(The 4 in the equation represents 4 years)
Multiply:
12000n = 510 
We'll divide 510 by 12000:
n = 0.0425
The annual interest rate is 4.25%
s344n2d4d5 [400]3 years ago
4 0

Annual interest rate is 4.25% :)

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