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PLEASE HELP ASAP!! After 5 years, $8,060 deposited in a savings account with simple interest had earned $3,224 in interest. What was the interest rate?​

PLEASE HELP ASAP!! After 5 years, $8,060 deposited in a savings account with simple interest had earned $3,224 in interest. What was the interest rate?​
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5 votes
PLEASE HELP ASAP!! After 5 years, $8,060 deposited in a savings account with simple interest had earned $3,224 in interest. What was the interest rate?​

asked
User RajVimalC
by
8.7k points

1 Answer

2 votes

Answer:

Explanation:

I = PRT

PRT = I

R = I/PT

R = 3224/(8060)(5)

R= 8%

answered
User Samya
by
8.6k points
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