You deposit $800 into an account that earns simple annual interest. after 2 years. the account balance is $900. find the annual interest rate.

6.25%

Step-by-step explanation:

Answer

annual interest is 6.25%

Step-by-step

First, converting R percent to r a decimal

r = R/100 = 6.25%/100 = 0.0625 per year.

Solving our equation:

A = 800(1 + (0.0625 × 2)) = 900

A = $900.00

The total amount accrued, principal plus interest, from simple interest on a principal of $800.00 at a rate of 6.25% per year for 2 years is $900.00.

final total: 63

step-by-step explanation:

60 times sales tax

60 times 0.05

3

60 + 3

63