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Over the last 4 years, Michael has earned $240 interest on an initial investment of $2,000. What simple annual interest rate is the bank paying on this account?

Over the last 4 years, Michael has earned $240 interest on an initial investment of $2,000. What simple annual interest rate is the bank paying on this account?
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19 votes
Over the last 4 years, Michael has earned $240 interest on an initial investment of $2,000. What simple annual interest rate is the bank paying on this account?

asked
User Lalit Agarwal
by
7.1k points

2 Answers

0 votes
probably like 3% ......
answered
User AKKAweb
by
7.0k points
5 votes

Answer:

your answer should be 3%

Explanation:

hope this helped good luck

answered
User RodriKing
by
8.3k points
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