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Help?123 Group Title

$200 in the account and has earned a total of $8 in interest in two years, what is the rate of the account?

  • 8 months ago
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  1. texaschic101 Group Title
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    I = PRT is the original formula, but since we are looking for R, we can change it to : I/PT = R I = 8 P = 200 T = 2 now we sub I /PT = R 8/(200)(2) = R 8/400 = R .02 = R -- change to percent 2% = R

    • 8 months ago
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    thanks so much !! (:

    • 8 months ago
  3. texaschic101 Group Title
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    sure thing :)

    • 8 months ago
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