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OpenStudy (anonymous):
What is the interest rate on $1200 invested for 2 years in an account that earns simple interest at a rate of 5%per year?
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OpenStudy (amistre64):
what is the interest rate? is that worded correctly?
OpenStudy (anonymous):
yes, that is what it says in the book. please help.
OpenStudy (amistre64):
the interest rate is already stated in the problem
OpenStudy (anonymous):
so it is $1200?
OpenStudy (amistre64):
no, the interest rate is stated by a percentage, not a dollar amount
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OpenStudy (anonymous):
oh ok i understand now thank you
OpenStudy (amistre64):
good luck :)
OpenStudy (anonymous):
thanks!
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