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Mei-ling invested $2,000 in a simple interest account for 3 years. At the end of 3 years, she had earned $150 in interest. What was the simple interest rate of the account?

Respuesta :

mysticchacha

Answer:

2.5%

Step-by-step explanation:

Simple Interest formula  :   V = P + P*r*t

I = Prt

$150 = $2000*r * 3

r = $150 / ($2000*3) =  5/200 = 0.025  = 2.5%

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