PLEASE ANSWER Over the last 4 years, James has earned $56 interest on a deposit of $280 that he made to his savings account. What is

Question

PLEASE ANSWER
Over the last 4 years, James has earned $56 interest on a deposit of $280 that he made to his savings account. What is the simple annual interest rate for James’ savings account?

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    0
    2021-11-25T22:43:30+00:00

    Answer: 5%

    Step-by-step explanation:

    0
    2021-11-25T22:43:35+00:00

    the answer would be 5% because 56 is 20% of 280 and thats 4 years so you divide by 4 which gets you 5%.

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