SOLUTION: Hassan deposited $7,500 into a bank account. At the end of 3 years the account had earned $900 in simple interest. What rate of interest did the account earn per year?

SOLUTION: Hassan deposited $7,500 into a bank account. At the end of 3 years the account had earned $900 in simple interest. What rate of interest did the account earn per year?

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Question 422559: Hassan deposited $7,500 into a bank account. At the end of 3 years the account had earned $900 in simple interest. What rate of interest did the account earn per year?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=P*r
I/P=r
(900/7500)/3=0.04=4%
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