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Mathematics

Answered

Caleb deposited $4,000 in an account that earned simple interest annually.
- He did not make additional deposits nor withdrawals.
-At the end of 5 years, the balance was $5,200.
What is the interest rate on this account?

Answer :

Intelligenz Intelligenz

Today at 9:00 AM

Answer:

6%

Step-by-step explanation:

Subtract 4000 from 5200 . This is the amount of interest earned after 5 years.

Divide that by 5. This is the amount earned after 1 year.

What percent is that number of 4000? (6%)

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