Grayson deposited $4,500 into a new account. • - The account earned annual simple interest. • - No withdrawals or deposits were made. • - At the end of 2 years, the balance of the account was $5,265 What is the annual interest rate on this account? |= Prt, plug in numbers and solve equation in your calculator Convert ALL answer choices to decimals (percent divided by 100) O A. 4.7% ов. 5.2% ос. 7.3% O D. 8.5%

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
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Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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Grayson deposited $4,500 into a new account.
• - The account earned annual simple interest.
• - No withdrawals or deposits were made.
• - At the end of 2 years, the balance of the account was $5,265
What is the annual interest rate on this account?
|= Prt, plug in numbers and solve equation in your calculator
Convert ALL answer choices to decimals (percent divided by 100)
O A. 4.7%
ов. 5.2%
ос. 7.3%
O D. 8.5%
Transcribed Image Text:Grayson deposited $4,500 into a new account. • - The account earned annual simple interest. • - No withdrawals or deposits were made. • - At the end of 2 years, the balance of the account was $5,265 What is the annual interest rate on this account? |= Prt, plug in numbers and solve equation in your calculator Convert ALL answer choices to decimals (percent divided by 100) O A. 4.7% ов. 5.2% ос. 7.3% O D. 8.5%
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