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You earn $45.50 each year on an investment. What is the rate of simple interest if your initial investment was $750?
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You earn $45.50 each year on an investment. What is the rate of simple interest if your initial investment was $750?

User Yaegor
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2 Answers

6 votes
6.0666.... % i hope this helpedddd
User Tjfo
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4.2k points
3 votes
6.0666...%

You probably need to round it to the nearest tenth (6.1%) or hundredth(6.07%). If you need to the nearest thousandth, it is 6.067%.

Interest/Investment = the percent interest (or return)

$45.50/$750=0.060666...
0.060666...*100%=6.0666...%
User Abdul Mahamaliyev
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4.2k points
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