HELP ME:Malik deposited $1,050 in a savings account, and it earned $241.50 in simple interest after four years. Find the interest rate on Ma

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HELP ME:Malik deposited $1,050 in a savings account, and it earned $241.50 in simple interest after four years. Find the interest rate on Malik’s savings account.

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    2021-09-10T18:32:06+00:00

    To convert these numbers to a percent, divide the subset by the total, then multiply by 100.
    $241.50 (subset) divided by $1,050 (total)
    Is 0.23. Next, multiply the quotient (0.23) by 100 to get your answer.
    0.23*100 = 23.
    The interest rate would be 23%.

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