Determine the interest rate earned on a $500 deposit when $650 is paid back in one year.
A) 0.77 percent
B) 1.30 percent
C) 30.0 percent
D) 77.0 percent

Name: Determine the interest rate earned on a $500 deposit when $650 is paid back in one year. A) 0.77 percent B) 1.30 percent C) 30.0 percent D) 77.0 percent
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Question

Quizplus · Accepted Answer

The interest earned is $650 - $500 = $150. The interest rate is ($150 / $500) * 100 = 30.0 percent.

Determine the Interest Rate Earned on a $500 Deposit When