@Loveiskey18

After 3 years, Remington earned $390 in simple interest from a CD into which he initially deposited $4000. What was the annual interest rate of the CD?

A. 13%
B. 6.5%
C. 3.25%
D. 9.75%

Question

@Loveiskey18 

After 3 years, Remington earned $390 in simple interest from a CD into which he initially deposited $4000. What was the annual interest rate of the CD?

 		A.	13%
 		B.	6.5%
 		C.	3.25%
 		D.	9.75%

anonymous · Answer

All you do is subtract 4000-by your options until you get 390. *hint begin with 9.75%*. (4000-9.75% =?)

trantom · Answer

390/3=130
130/4000=0.0325
3.25%

trantom · Answer

C

trantom · Answer

loveiskey18 you CAN do that but it's better and faster to use algebra then guess and check.

anonymous · Answer

Your answer is incorrect. Do not accuse me of guessing. :)