SOLUTION: If a womann invested $2400 in a simple interest account and earned $84 in 6 months, what is the annual interest rate?
Algebra.Com
Question 354920: If a womann invested $2400 in a simple interest account and earned $84 in 6 months, what is the annual interest rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
in 6 months she earned $64
in one year it will be double of that= $132.
p= $2400
r=?
time = 1 year
I= 132
...
132=2400*r*1
132/2400=r
r= 0.055
= 5.5%
...
m.ananth@hotmail.ca
RELATED QUESTIONS
If Kachina Caron invested $1800 in a simple interest account and earned $54 in 6 months,... (answered by rfer)
If Sylvia interest $1800 in a simple interest account and earned $84 in 8 months, what is (answered by rfer)
If Kachina Caron invested 1800 dollars in a simple interest account and earned $81 in 9... (answered by t0hierry)
If Kachina Caron invested $1800 in a simple interest account and earned $27 in 3 months,... (answered by greenestamps)
If Kachina Caron invested $1200 in a simple interest account and earned $27 in 3 months,... (answered by greenestamps)
Please help me with this equation: You have a total of $5000 invested in two simple... (answered by Theo)
A total of $5500 was deposited into two simple interest accounts.
On one account the... (answered by ikleyn)
Kachina Caron invests $1200 in a simple interest account and earns $72 in 8 months. What... (answered by venugopalramana)
When Sara Whitehorse changed jobs, she rolled over the $7700.00 in her retirement account (answered by mananth)