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You deposit $2000 in an account. The account earns $120 simple interest in 8 months. What is the annual interest rate?

You deposit $2000 in an account. The account earns $120 simple interest in 8 months. What is the annual interest rate?
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3 votes
You deposit $2000 in an account. The account earns $120 simple interest in 8 months. What is the annual interest rate?

asked
User Avnish Tiwary
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8.2k points

1 Answer

1 vote
you are making $15 a month so it would be an annual rate of 0.75% hope this helps you
answered
User Julha
by
8.0k points
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