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Han has $410,000 in a retirement account that earns 15,785 each year. Find the simple interest rate for investment?
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Han has $410,000 in a retirement account that earns 15,785 each year. Find the simple interest rate for investment?

User Sungryeol
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1 Answer

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Answer:

the simple interest rate on this investment is.0385 or 3.85%:

Interest = principle * rate * time

I=prt

r=I/(pt)=15785/(410,000*1)= .0385

Explanation:

User Nathaniel Bubis
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