Question

What interest rate, to the nearest whole number, is required for a $1000 investment to return $2.88 interest

Answer 1

The interest rate required for a $1000 investment to return $2.88 interest is 0%.

Step-by-step explanation:

To find the interest rate required for a $1000 investment to return $2.88 interest, we can use the formula:

Interest Rate = (Interest / Principal) x 100

Plugging in the values, we have:
Interest Rate = (2.88 / 1000) x 100 = 0.288%

Therefore, the interest rate required, to the nearest whole number, is 0%.