Asked by Anonymous
Interest of $22.05 was earned in 3 months on a balance of $1960.00. What is the interest rate per annum earned on that account?
Answers
Answered by
Damon
22.05 = 1960 (r/4)
1960 r = 88.20
r = .045
so 4.5 %
1960 r = 88.20
r = .045
so 4.5 %
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.