Sydthechi Sydthechi

13-05-2021
Mathematics

contestada

A principal of $3000 was
invested in a savings account
for 3 years. If the interest
earned for the period was
$450, what was the interest
rate?
A=P+Prt

Respuesta :

clarch19 clarch19

14-05-2021

Answer:

r = 0.05 or 5%

Step-by-step explanation:

3450 = 3000 + (3000 · r · 3)

450 = 9000 · r

450/9000 = r

r = 0.05 or 5%

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