Answer:
6.3%
Step-by-step explanation:
A student has $1,500 to deposit in a savings account.
Interest = Principal × rate of interest
Let the rate of interest be x%
95.00 = 1,500 × (x/100)
95.00 = 15x
x = [tex]\frac{95}{15}[/tex]
x = 6.33%
The lowest interest rate is 6.3% in a year.
