Hi there! Have questions about your homework? At Brainly, there are 60 million students who want to help each other learn. Questions are usually answered in less than 10 minutes. Try it for yourself by posting a question! :D

Hi there! Have questions about your homework? At Brainly, there are 60 million students who want to help each other learn. Questions are usually answered in less than 10 minutes. Try it for yourself by posting a question! :D

Reese deposited $7500 for two years into a money market account. At the end of two years she had a total of $8700. What rate of interest did she receive?

Certified answers contain reliable, trustworthy information vouched for by a hand-picked team of experts. Brainly has millions of high quality answers, all of them carefully moderated by our most trusted community members, but certified answers are the finest of the finest.

She deposited $7500. So it is the principal. At the end of years, she had total of $8700. So the total amount is $8700 and the time period is 2 years. Interest = Total amount - principal = $8700 - $7500 = $1200 We need the rate of interest.

we know that Interest = PTR/100 ⇒1200 = 7500*2*R/100 ⇒R = 1200*100/7500*2 ⇒R = 120000/15000 = 8%