SOLUTION: if you $200 into a simple intrest savings acount for 5 years and earn $60 in intrest what intrest rate did you earn?

SOLUTION: if you $200 into a simple intrest savings acount for 5 years and earn $60 in intrest what intrest rate did you earn?

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Question 432138: if you $200 into a simple intrest savings acount for 5 years and earn $60 in intrest what intrest rate did you earn?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
If after 5 years you made $60, then you made $60/5 or $12 a year.
12/200=.06
So you made 6% a year.
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