A $7000 investment earns $840 annual simple interest in one year. What is the annual interest rate?

asked Nov 10, 2018 33.2k views

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4 votes

The interest rate is the percentage of the investment made up by the interest.

(840)/(7000)

= 0.12, or 12% percent.

Hope this helps!

Jaf answered Nov 13, 2018

by Jaf

8.2k points

1 vote

The answer would be 12 % annual interest rate!
Hope i helped

Camron answered Nov 15, 2018

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