26waddellr 26waddellr

10-04-2021
Mathematics

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Roberto deposited $700 into a savings account for 2 years. He forgot what the interest rate was on his account but he got a statement saying he earned $63 in interest. Use the simple interest formula to determine his interest rate for this account. r= _____%

Respuesta :

chew2ter chew2ter

10-04-2021

Answer:

r = 4.5%

Step-by-step explanation:

I = Prt

$63 = $700 x r x 2

$63 = 1400r

r = 0.045

r = 4.5%

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