Mai invested 500 in a fund for 3 years and was paid simple interest. The total interest that she received on the investment was 60 . As a percentage, what was the annual interest rate of her investment?

Solución

Solución

Rate : (- 29.33333 \dots %)

Pasos de solución

Translate the problem into an equation:

60 = 500 (1 + r \cdot 3)

Resolver para

r, 60 = 500 (1 + r \cdot 3) : r = - 29.33333 \dots %

Rate : (- 29.33333 \dots %)

Ejemplos populares

Rewrite this number in appropriate científica notation: 97.04 You deposit 3000 in an account earning 6% interest compounded monthly. How much will you have in the account in 10 years?The circunferencia of a circle is 3pi inches. What is the area?Ishaan is 7 times as old as Christopher and is also 35 years older than Christopher. How old is Christopher?seven less than a number is eleven