Terry’s investment of $2,200 in the stock market earned $528 in two years. Find the simple interest rate for this investment.

asked Sep 13, 2022 110k views

3 votes

Terry’s investment of

$2,200 in the stock market earned
$528 in two years. Find the simple
interest rate for this investment.

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5 votes

Answer:
24%

Explanation:
t = ???
P = 2,200
I = 528
r = 12%
528 = 2,200(t x 1)
t = 528/2,200
t = 0.24
t = 0.24 x 100 = 24%

Paul Ryan answered Sep 18, 2022

5.8k points

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