Questions LLC
Login
or
Sign Up
Ask a New Question
Questions
Math
Interest of $22.05 was earned in 3 months on a balance of $1960.00. What is the interest rate per annum earned on that account?
1 answer
22.05 = 1960 (r/4)
1960 r = 88.20
r = .045
so 4.5 %
You can
ask a new question
or
answer this question
.
Related Questions
a formula for calculating simple interest is I = Pr, were I is the interest earned in dollars, P is the principal or original
John Lee's savings account has a balance of $3427. After 9 months, what will the amount of
interest be at 4.6% per year?
Interest of $22.05 was earned in three months on a balance of $1960. What is the interest rate per annum earned on that account?
Tom Newman took out a simple interest loan of $1,500.00 at 10 percent interest for 12 months. after 4 payments the balance is
1) Carmen borrowed $1,200 for three months at 10.5% interest. How much interest did she pay for the loan?
2)Zack deposited $1,200
Sophie borrowed $2000 at a simple interest rate of 15% for 3 years to repay the loan and has $900 in interest. If Sophie's
Mr. Flores opened an account with a deposit of $5,000
The account earned annual simple interest. He did not make any additional
Peter buys AC at 900. He pays 20% deposit and the outstanding balance plus interest in 48 months. Interest on the balance is
computing checking account balance. based on the following information,determine the true balance in your checking account.
balan
Christina Fox took out a simple interest loan at 5% for 12 months. Her previous balance is $200. What is the interest for the