SOLUTION: A bank will pay $250.00 if I open an account for 3 months with a min bal of $10,000.00 SO WHAT would this equate as an interest rate?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A bank will pay $250.00 if I open an account for 3 months with a min bal of $10,000.00 SO WHAT would this equate as an interest rate?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 911872: A bank will pay $250.00 if I open an account for 3 months with a min bal of $10,000.00 SO WHAT would this equate as an interest rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
250/10000*4=0.1=10% per yr