Ask Question
19 December, 01:37

A family deposited $8000 into an account six years ago. The account earned

simple interest at a yearly rate. So far the total interest earned is $1200. What is

the rate for the account?

+3
Answers (2)
  1. 19 December, 02:09
    0
    For this you have to ask yourself:

    $1200 is what percent of $8000

    $1200/$8000 = x%

    0.15 = x%

    0.15 x100 = 15%

    The rate for the account is 15%
  2. 19 December, 04:18
    0
    Use I = prt

    1200 = 8000r (1)

    1200/8000 = r

    0.15 = r

    15% = r
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A family deposited $8000 into an account six years ago. The account earned simple interest at a yearly rate. So far the total interest ...” 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