document.write( "Question 1101733: 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
\n" );
document.write( " \n" );
document.write( "
Algebra.Com's Answer #716326 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "With this arrangement, interest is not compounded. So if $330 of interest is earned in 3 years, the yearly interest is $110. \n" ); document.write( "Then the interest rate is \n" ); document.write( "The interest rate is .055, or 5.5%. \n" ); document.write( " |