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3 years ago

16. J.D. opened a savings account with $425. After

Mathematics

1 answer:

snow_lady [41]3 years ago

8 0

Answer:

1.2%

Step-by-step explanation:

Solving our equation

r = 10.2 / ( 425 × 2 ) = 0.012

r = 0.012

converting r decimal to a percentage

R = 0.012 * 100 = 1.2%/year

The interest rate required to

accumulate simple interest of $ 10.20

from a principal of $ 425.00

over 2 years is 1.2% per year.

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