ismaseda ismaseda

Today at 2:43 AM
Mathematics

Answered

You deposit $50,000 in a savings account. After 10 years, your balance is $65,000. What is your interest rate?

Answer :

clarch19 clarch19

Today at 2:48 AM

Answer:

r = .03 or 3%

Step-by-step explanation:

Interest = Principal x Rate x Time

15000 = 50000(10)r

15000 = 500000r

r = 15/500

r = .03 or 3%

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