An investment of $1,800 in the stock market earned $378 in two years. Find the simple interest rate.

asked Apr 28, 2021 157k views

3 votes

An investment of $1,800 in the stock market

earned $378 in two years. Find the simple
interest rate.

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6 votes

Answer:

The simple interest formula is I =PrT

Here I = 378, P = 1800, T = 2

substitute

378 =1800*r*2

r = 378/3600 = .105, i.e. 10.5%

Explanation:

GregP answered May 4, 2021

by GregP

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