99 POINTS................Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Round your answer to the nearest hundredth.

520 is the principal, 156 is the total interest in 5 years. Divide the 156 by 5, and you get $31.20 per year. divide: 31.2 / 520 = 0.06. convert that to a fraction, and you get the answer: 6%

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samanthagarcia1 samanthagarcia1 · Answer 2 · 2016-10-04T16:53:50+02:00

samanthagarcia1 samanthagarcia1

04-10-2016

After 5 years Tammi earned $156 you'll divide 156 by 5 and get $31.20. So, $31.2 is 6% of $520..So, the answer is 6%.

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99 POINTS................Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest. If no money was deposited into or withdrawn from the account, what was the annual interest rate? Round your answer to the nearest hundredth.

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99 POINTS................Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.

If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Round your answer to the nearest hundredth.