Suppose you invested $1200 for four years. You earned $312 in simple interest. What is the interest rate?

asked Aug 21, 2023 134k views

4 votes

Suppose you invested $1200 for four years. You earned $312 in simple

interest. What is the interest rate?

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2 votes

Answer: 6.5%

Step-by-step explanation: 312/4 = 78

78/1200 = 0.065

0.065 x 100 = 6.5%

Shenika answered Aug 26, 2023

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