Question

Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

Answer 1

Answer:

6 percent

Step-by-step explanation:

Interest =1 Part

156 = 520(annual rate )(5)

156 = 2600(annual interest rate )

annual rate=156/2600  

annual interest  rate  = 0.06

annual interest rate=0.06*100

annual interest rate =6%

Answer 2

Answer:

6%

Step-by-step explanation:

Interest = Principal * rate * time

      156 = 520(r)(5)

      156 = 2600r

           r = 0.06 or 6%