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Sonnie deposited $2,500 into an account that earns simple interest. After 5 years, she earned $375 in interest. What was the interest rate of the account?

Respuesta :

sqdancefan

Answer:

  3%

Step-by-step explanation:

The interest on the account is given by the simple interest formula:

  I = Prt

where I is the interest, P is the principal invested, r is the annual rate, and t is the number of years

  375 = 2500r(5) . . . . . . using the given values in the formula

  375/12500 = r = 0.03 . . . . . divide by the coefficient of r

Sonnie's account had a 3% interest rate.