PLEASE ANSWER SOON MY TEST IS DUE IN 10 MINUTES!!!!!!! Lily deposited $500 in a savings account. At the end of 1 year, she had e

Question

nataly862011 [7]

4 years ago

8

PLEASE ANSWER SOON MY TEST IS DUE IN 10 MINUTES!!!!!!! Lily deposited $500 in a savings account. At the end of 1 year, she had e

arned $20 in simple interest. What interest rate did she receive? Enter your answer in percent form.

Mathematics

2 answers:

V125BC [204] · Answer 1 · 2022-01-08T15:34:15+03:00

V125BC [204]4 years ago

5 0

Answer: 4%

Step-by-step explanation:

Substituting the values into the simple interest rate formula yields 20=500∙r∙1. In this equation, r equals 0.04. The interest rate in percent form is 0.04∙100, or 4%.

alex41 [277] · Answer 2 · 2022-01-08T14:07:16+03:00

alex41 [277]4 years ago

4 0

Her interest rate was 0.3%.