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?

Question

shane_b · Answer

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

anonymous · Answer

wanna do it for me :)

shane_b · Answer

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.

anonymous · Answer

its ok i got help thank you :]