Question

20 POINTS- EASY

8. Luisa invests $1900 for 4 years and earns $152 in simple interest. What is
the interest rate as a percent?
A. 2%
B. 4%
C.6%
D. 102%​

Answer 1

Simple interest= (principal x Rate x time)/100
Rearrange the formula to get the rate
(Simple interest x 100)
———————————— = Rate
Principal x time

$152 x 100
—————- = Rate
1900 x 4

15200
———- = Rate
7600

Rate = 2%

Answer 2

2%

Explanation:

1900(x)^4= 1900+152

1.019 and is closer to 2%