After 3 years, remington earned $390 in simple interest from a cd into which he initially deposited $4,000. what was the annual interest rate of the cd?

a. 3.25%
b. 6.5%
c. 13%
d. 9.75%

The formula used for this problem would be

F = P (1+i)^n, where F is the future worth, P is the present worth, i is the annual interest and n is the number of years. Substituting the known values, we could determine i.

$390 + $4000 = $4000 (1+i)^3
(1+i)^3 = $4390/$4000
(1+i) = cube root (1.0975)
1+i = 1.0315
i = 1.0315 - 1
i = 0.0315 * 100
i = 3.15%

The correct answer is 3.15%, From the choices, the nearest would be letter A.

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(6,1)(5,4)slope = (4 - 1) / (5 - 6) = 3/-1 = -3y = mx + bslope(m) = -3use either of ur , = 6 and y = 1now sub and find b, the y int1 = -3(6) + b1 = -18 + b1 + 18 = b19 = bso ur equation is : y = -3x + we need it in standard formy = -3x + 3x to both sides3x + y = 19 < == standard form