Question

Terry's investment of $2,200 in the stock market earned $528 in two years. Find the simple interest rate for the investment

Answer 1

24%

Explanation:

Answer 2

24%

Explanation:

t = ???

P = 2,200

I = 528

r = 12%

528 = 2,200(t x 1)

t = 528/2,200

t = 0.24

t = 0.24 x 100 = 24%

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