Ask Question
20 December, 03:23

You deposited $4500 dollars in a savings account that earns a simple interest rate. What interest rate do you need to be paid, if you require $5445 after 7 years.

+4
Answers (1)
  1. 20 December, 04:28
    0
    5445 = 4500 i * 7

    5445 = 31500i

    i = 5445/31,500

    i = 0.1729

    i = 17.29%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You deposited $4500 dollars in a savings account that earns a simple interest rate. What interest rate do you need to be paid, if you ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers