document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1101733>Question 1101733</A>: <I><SPAN STYLE=\"word-break: break-all;\">  a savings account is set up so that the simple interest earned on the investment is moved into a seperate checking account at the end of each year if an investment of $2000 accumulation $330 of interest in the checking account after 3 years what is the annual simple interest rate<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #716325 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=716325\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  if an investment of $2000 accumulation $330 of interest in the checking account after 3 years what is the annual simple interest rate<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "I = P*r*t<BR>\n" );
document.write( "Solve for \"r\"::<BR>\n" );
document.write( "330 = 2000*r*3<BR>\n" );
document.write( "--------------------<BR>\n" );
document.write( "r = 110/2000<BR>\n" );
document.write( "rate = 0.055 = 5.5%<BR>\n" );
document.write( "------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "----------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );