SOLUTION: Maria has a savings account that is earning simple interest. If she started with $200 in the account and has earned a total of $8 in interest in two years, what is the rate of the

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Maria has a savings account that is earning simple interest. If she started with $200 in the account and has earned a total of $8 in interest in two years, what is the rate of the       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1104385: Maria has a savings account that is earning simple interest. If she started with $200 in the account and has earned a total of $8 in interest in two years, what is the rate of the account? Use the formula .
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
8/200=.04
.04/2=0.02, or 2% interest per year
☺☺☺☺