Question 1185721
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<pre>

    Future value = P + P*r*t


P is the principal amount (deposit);

r is the annual percentage rate;

t is the time in years.


    2600 = 1200 + 1200*r*3

    2600 - 1200 = 1200*r*3

       1400     = 3600*r

         r      = {{{1400/3600}}} = 0.389 = 38.9%.    <U>ANSWER</U> 
</pre>

Solved.



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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.



Learn the subject from there.