Kira invested $800 in a fund for 6 years and was paid simple interest. the total interest that she received on the investment was $240. as a

Question

Kira invested $800 in a fund for 6 years and was paid simple interest. the total interest that she received on the investment was $240. as a percentage, what was the annual interest rate of her investment?

in progress 0
Vân Khánh 5 years 2021-09-04T20:02:08+00:00 1 Answers 10 views 0

Answers ( )

  1. thuthuy
    0
    2021-09-04T20:03:55+00:00
    Reply

    Answer:

    5%

    Step-by-step explanation:

    $240 divided by 6 years = $40 per year.

    This means that the interest rate was 40/800 = 1/20 = 5%

Leave an answer

Browse

Giải phương trình 1 ẩn: x + 2 - 2(x + 1) = -x . Hỏi x = ? ( )