151k views
5 votes
Question 20 A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $402. What was the simple interest rate of the bonds? ​

1 Answer

3 votes

Answer: interest rate was 6.7 %

Step-by-step explanation: 402/6000 = 0.067 = 6.7%

User Toyin
by
6.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.