domdomwallace461 domdomwallace461

16-11-2017
Mathematics

contestada

Lily deposited $500 in a savings account. At the end of 1 year, she had earned $20 in simple interest. What interest rate did she receive?

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cedarwood79 cedarwood79

17-11-2017

Hi! To find the amount of simple interest earned, we can divide the amount earned in interest by the amount in the savings account. 20/500 is 0.04. To get this in percent form, multiply by 100 to get 4. Lily's savings account received an interest rate of 4%.

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iivibxsii iivibxsii

11-12-2020

the answer is 4% because i got the same question and when i checked the answer it said "correct"

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