You deposit $500 in an account. The account earns $60 simple interest in 8 years. What is the annual interest rate?

Step-by-step explanation:

Sub and solve

P = p * r * t

60 = 500 * r * 2   Combine the factors.

60 = 1000 * r       Divide by 1000

r = 60 / 1000

r = 0.06

Convert this to a percent.

0.06 = x / 100 multiply both sides by 100

0.06 * 100 = x

x = 6%

$3720

step-by-step explanation:

taxable income = $31000

as per the 2018-2019 us tax bracket, the tax rate is 12% for an individual whose taxable income is between $9,526 to $38,700.

so, the tax to be paid by him = 12% of 31000

= 0.12 * 31000     [12% converted to decimal as 0.12]

= $3720