msdani20183 msdani20183

27-01-2021
Mathematics

contestada

You put $12,000 in a bank account for 4 years and earn $960. What was the interest rate?

Respuesta :

achoiceberry achoiceberry

28-01-2021

Answer:

2%

Step-by-step explanation:

960 / 4 = 240

240 / 12000 = .02 = 2%

Reverse engineering:

12000 times .02 = 240

240 times 4 years = 960

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