Willie deposited $2,500 into a savings account for which simple interest is calculated semi-annually. If his $2,500 grew to $2,540 after 6 months, what is the yearly interest rate on Willie's account?
A. 0.32% B. 1.6% C. 3.2% D. 0.16%

Question

Willie deposited $2,500 into a savings account for which simple interest is calculated semi-annually. If his $2,500 grew to $2,540 after 6 months, what is the yearly interest rate on Willie's account?
 		A.	0.32% 		B.	1.6% 		C.	3.2% 		D.	0.16%

anonymous · Answer

Are you familiar with the formula i=prt? Interest= PrinciplexRatexTime 
If you plug each of these in you'll get your answer<3 Good luck!