Johnston Boone
08/22/2023 · Senior High School
A \( \$ 1400 \) certificate of deposit held for 69 days was worth \( \$ 1408.86 \). What simple interest rate was earned? Assume a 360 -day year. The certificate of deposit earned an interest rate of \( \square \% \). (Type an integer or decimal rounded to the nearest tenth as needed.)
UpStudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
The simple interest rate earned is \(3.30\%\).
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit