Five years ago Preston deposited 5000 dollars into a bank that paid him simple interest Over that time he earned 900 dollars in interest What interest rate did the bank give Preston

Solución

Solución

Rate : 3.6%

Pasos de solución

Translate the problem into an equation:

900 = 5000 r \cdot 5

Resolver para

r, 900 = 5000 r \cdot 5 : r = 3.6%

Rate : 3.6%

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