Question

You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate?

Answer 1

6%

Explanation:

Let's start by finding the amount earned per month:

`(18)/(9)`=2

Now let's find the % per month

`(2)/(400) =.005`, or .5%

Now let's multiply by 12 months to get the annual interest rate

`.005 * 12 = .06` or 6%

Answer 2

The annual interest rate is 0.06 or 6%.


thats the answer hope this helps