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OpenStudy (anonymous):
A deposit of $11,000.00 was made to an account seven years ago. After seven years, the account had earned $3,465.00 in interest. What simple interest rate did the account earn?
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OpenStudy (anonymous):
4.5%
OpenStudy (tkhunny):
Really, @Twig02? Please read the rules for the site. Simple Interest is ALWAYS : I = Prt. Always! Your problem statement says: P = $11,000.00 t = 7 yrs I = $3,465.00 Substitute and solve!
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