Question

Susie opens a simple interest checking account. After 6 months, her account grew from $500 to $508.75. What is the interest rate on her account?

Answer 1

Answer:

3.5 %

Step-by-step explanation:

508.75 - 500 = 8.75

8.75 = (500) (0.5)

8.75/250 = (250)/250

.035

Move the decimal two places to the right to get 3.5%.

Hope this helps and best of luck!

Feel free to message me if you need more help! :)

Answer 2

The interest rate on her account is 3.5%

• The calculation is as follows:

= 508.75 - 500

= 8.75

Now  

8.75 = (500) (0.5)

So the rate of interest is  

$= 8.75\div 250$

= .035

Learn more: https://brainly.com/question/9122916?referrer=searchResults