After 6 months the simple interest earned annually on investment of $8,000 was 975. find the interest rate to the nearest tenth of a percent.

a 0.2
b. 22.4%
c. 0.2444
d. 24.4%

Question

After 6 months the simple interest earned annually on investment of $8,000 was 975. find the interest rate to the nearest tenth of a percent.

a 0.2
b. 22.4%
c. 0.2444
d. 24.4%

anonymous · Answer

The answer is (D.) 24.4% 

This is how you get the answer 
Interest rate = (interest earned * # of months / 12 ) / invesment 
(Again you have to multiply the above equation by 100% to get the percentage)

jenny.andrade · Answer

did you use a calculator? orr..

jenny.andrade · Answer

anyways thanks

anonymous · Answer

Yeah i used a calculator lol your welcome XP