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

interest. What is the interest rate?

User Yasser Zamani
by
8.1k points

1 Answer

2 votes

Answer: 6.5%

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

78/1200 = 0.065

0.065 x 100 = 6.5%

User Shenika
by
7.7k points
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