Audrey deposited $40,000 in a savings account with simple interest. Five years later, she had earned $30,000 in interest. What was the interest rate? FIRST ONE TO ANSWER GETS BRANIEST

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MaTeRiAlgUrLl MaTeRiAlgUrLl

24-01-2022
Mathematics

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Audrey deposited $40,000 in a savings account with simple interest. Five years later, she had earned $30,000 in interest. What was the interest rate? FIRST ONE TO ANSWER GETS BRANIEST

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jdoe0001 jdoe0001 · Answer 1 · 2022-01-24T02:03:54+01:00

[tex]~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$30000\\ P=\textit{original amount deposited}\dotfill & \$40000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &5 \end{cases} \\\\\\ 30000=(40000)(\stackrel{\%}{\frac{r}{100}})(5)\implies \cfrac{30000}{(40000)(5)}=\cfrac{r}{100}\implies \cfrac{3}{20}=\cfrac{r}{100} \\\\\\ \cfrac{300}{20}=r\implies \stackrel{\%}{15}=r[/tex]