3 years ago

Carly made $10 in interest by placing $500 in a savings account with simple interest for 1 year. What was the interest rate?

Mathematics

1 answer:

yan [13]3 years ago

7 0

Answer:

2% or 0.02

Step-by-step explanation:

I=prt

10=500*x*1

10=500x

divide 500 by both sides

rate=0.02 or 2%

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lesya [120]

Answer:

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Step-by-step explanation:

Let's call this number x

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We know that
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therefore

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