Register

Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?

Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?
asked 69.5k views
5 votes
Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?

asked
User Yavuz
by
7.5k points

2 Answers

2 votes
The answer is 8% Hope this helps
answered
User EllisTheEllice
by
8.8k points
4 votes
Divide 40,000 by 500,000 and you get 0.08 which is 8%

Hope this helps!
answered
User Kop
by
7.9k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!