document.write( "Question 159262: Jim puts $5000 in a savings account. At the end of a year the account had earned $540 in interest. What was the yearly interest rate on the account? \n" ); document.write( "

Algebra.Com's Answer #117403 by nerdybill(7384) $\"\"$ $\"About$

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Jim puts $5000 in a savings account. At the end of a year the account had earned $540 in interest. What was the yearly interest rate on the account?
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\n" ); document.write( "Let x = interest rate
\n" ); document.write( "then
\n" ); document.write( "5000x = 540
\n" ); document.write( "x = 540/5000
\n" ); document.write( "x = 0.108
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\n" ); document.write( "Or, 10.8% interest
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