Question

Kourtney accrued $1,375 after 6 months. If she deposited 50,000 at the start what was the interest rate? PLS I NEED HELP ASAP

Answer 1

Answer: r = 5.5%

Step-by-step explanation:

6/12 = 0.5 (years)

(I=Prt) || 1375 = 50000 * r * 0.5

1375 = 25000r

1375/25000 = 25000r/25000

0.055 = r

0.055 * 100% = r

5.5% = r

(Please correct me if I'm wrong)