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If you invest $8,800 in a bank account for 4 years and end up closing the account with a total of $10,560 in it, what was your interest rate? plz help im desperate ​

If you invest $8,800 in a bank account for 4 years and end up closing the account with a total of $10,560 in it, what was your interest rate? plz help im desperate ​
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1 vote
if you invest $8,800 in a bank account for 4 years and end up closing the account with a total of $10,560 in it, what was your interest rate? plz help im desperate ​

asked
User Surikator
by
7.1k points

1 Answer

2 votes
$8,800 x 4 years = 35,200

$10,560/ 35,200 = 0.3

Answer: 30%
answered
User Marek Dulowski
by
8.0k points
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