Question

Ike opened a savings account with a deposit of $3,000. Three years later, he had earned a total of $270 in simple interest.

If he made no additional deposits, what was the annual interest rate on his account?

A. 0.03%

B. 9%

C. 4.5%

D. 3%

Answer 1

D. 3% 3,000*3%= 90 90(3)=270

Answer 2

are you suree