alexandria0817 alexandria0817

05-05-2020
Mathematics

contestada

Pierre earned $78.75 interest on his
savings bonds in one year. If he had $750.00 in
bonds, what was the rate of interest paid?

Respuesta :

sqdancefan sqdancefan

02-09-2020

Answer:

10.5%

Step-by-step explanation:

Use the interest formula to fill in the given values and solve for the rate:

I = Prt

where I is the interest earned on principal P at annual rate r for t years.

78.75 = 750·r·1

r =78.75/750 = 0.105 = 10.5%

The rate of interest paid was 10.5%.

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