Asked by E
Mr. Flores opened an account with a deposit of $5,000
The account earned annual simple interest.
He did not make any additional deposits or withdrawals.
At the end of 4 years, the balance of the account was $6,500.
What is the annual interest rate on this account?
A) 5.8%
B) 7.5%
C) 3.3%
D) 1.9%
The account earned annual simple interest.
He did not make any additional deposits or withdrawals.
At the end of 4 years, the balance of the account was $6,500.
What is the annual interest rate on this account?
A) 5.8%
B) 7.5%
C) 3.3%
D) 1.9%
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