en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

Lucia deposited 8,000 in a savings account with simple interest. Five years later, she had earned 1,200 in interest. What was the interest rate?

Solution

Lucia deposited 8, 000 in a savings account with simple interest. Five years later, she had earned 1, 200 in interest. What was the interest rate?

Solution

Rate : 3%

Solution steps

Translate the problem into an equation:

1200 = 8000 r \cdot 5

Solve for

r, 1200 = 8000 r \cdot 5 : r = 3%

Rate : 3%

Popular Examples

5 more than three times a number Angel is 2 years older than Gavin. In 6 yearsm Gavin's age will be twice as Angel's age now. How old are they 6 years from now?Nora invested 1500 in a bond at a simple interest rate of 3%. how much will the bond be worth in total after 10 years the sum of three consecutive integers is 51. what is the value of the middle number Percy and Amanda deposit 6,150.00 into a savings account which earns 4% interest compounded quarterly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?