Question

Tammi deposited $520 into a bank account that earned simple interest each year. After 5 years, she had earned $156 in interest.


If no money was deposited into or withdrawn from the account, what was the annual interest rate?

Answer 1

i would said it is Annual means yearly so you need to get the rate each year
156/5=31.2
31.2 Dollars every year
31.2/520=.06
.06*100=6% interest rate every year

Answer 2

Answer:the answer is 6%

Step-by-step explanation: