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After 1 year, $400 deposited in a savings account with simple interest had earned $16 in interest. What was the interest rate?

After 1 year, $400 deposited in a savings account with simple interest had earned $16 in interest. What was the interest rate?
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After 1 year, $400 deposited in a savings account with simple interest had earned $16 in interest. What was the interest rate?

asked
User Apoliticalboy
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8.5k points

1 Answer

1 vote
4% interest will give you that
answered
User Ludo
by
8.5k points
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