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You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?

You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?
asked 215k views
1 vote
You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?

asked
User Knogobert
by
8.0k points

1 Answer

3 votes
2000 times (1+x)^8 = 2782

Answer is x times 100
answered
User Erich Kitzmueller
by
7.3k points
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