SOLUTION: At what yearly rate will an amount of $90.00 earns a simple interest of $15.00 in 4 years?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: At what yearly rate will an amount of $90.00 earns a simple interest of $15.00 in 4 years?       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 697306: At what yearly rate will an amount of $90.00 earns a simple interest of $15.00 in 4 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
15/4=3.75
3.75/90=0.0417=4.17%