kaitlyngilbert314159 kaitlyngilbert314159

24-07-2020
Mathematics

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Kate opens a savings account with a deposit of $1250. After 2 years, she has
receives $112.50 in interest. What is the annual interest rate?

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Respuesta :

mathstudent55 mathstudent55

24-07-2020

Answer:

4.5%

Step-by-step explanation:

Simple interest:

I = Prt

112.5 = 1250(r)(2)

1250r = 56.25

r = 0.045 = 4.5%

Answer: 4.5%

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