Question

you received $101 and received $106.05 after one year . what was the intrest rate​

Answer 1

Answer :

5%

Step-by-step explanation:

106.05-101=5.05

106.05-101=5.055.05/101=0.05 or 5%

106.05-101=5.055.05/101=0.05 or 5%Checking:

106.05-101=5.055.05/101=0.05 or 5%Checking:101*5%= 5.05

106.05-101=5.055.05/101=0.05 or 5%Checking:101*5%= 5.05101+5.05=106.05