Question

After 8 years, Ofelia earned $980 in simple interest from a CD into which she initially deposited $7000. What was the annual interest rate of the CD?

Answer 1

The simple interest formula is:\[I=Principal*rate*time\]All you need to do is fill in the values and solve for r.

Answer 2

wanna do it for me :)

Answer 3

I'll help you do it but I won't answer it for you :)

What would the above equation look like if you plugged in the values? Let's start with that.

Answer 4

its ok i got help thank you :]