A bank is offering a simple interest rate on deposits of 750 dollars If there is 806 point 2 5 dollars in the account after 3 years, what was the bank’s interest rate?

The interest earned was $806.25 − $750 = $56.25. Using simple interest, I = Prt, the rate is r = $56.25 ÷ ($750 × 3) = 0.025, or 2.5%. The bank’s interest rate was 2.5 percent, choice D.

AI-written and checked against the verified answer.