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%

Okay, so this is how we are going to find the Interest rate (Work):

156/5=31.2

31.2 Dollars every year

31.2/520=.06

.06x100= 6% interest rate every year

I hope this helps, Have a great rest of your day. :)