what is the simplest interest rate if $126.77 in interest is earned on a deposit of $1434.85 in one year?

Question

what is the simplest interest rate if $126.77 in interest is earned on a deposit of $1434.85 in one year?

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Edana Edana 4 years 2021-08-14T18:14:56+00:00 1 Answers 7 views 0

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  1. Neala
    0
    2021-08-14T18:16:06+00:00
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    Answer:

    9%

    Step-by-step explanation:

    Principal x interest rate=yearly interest

    1434.85 x interest rate =126.77

    interest rate = 126.77/1434.85

    interest rate=.088 or 9%

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