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16 October, 12:26

Ava deposited $6,008 in a savings account with simple interest. Four years later, the account held $7,449.92. What was the interest rate?

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  1. 16 October, 13:47
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    Answer: 6% a year

    Step-by-step explanation:

    r = 1441.92 / (6008 * 4) = 0.06

    r = 0.06

    convert your rate into a percentage

    R = 0.06 * 100 = 6%/year
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