Question

I'm back!!! ;)

A $7000 investment earns $1330 simple interest in two years. What is the annual interest rate?

A. 1.90%


B. 3.80%


C. 9.50%


D. 19.0%

Answer 1

I = Prt

7000 = (1330)(2)r

Multiply 1330 * 2.

Answer 2

2660

Answer 3

Wait, no it's:

1330 = (7000)(2)r

So multiply 7000 * 2

Answer 4

1400

Answer 5

Check again

Answer 6

14000

Answer 7

Yes, now we divide 14000 to both sides, what's 1330 / 14000?

Answer 8

0.095

Answer 9

Yes, now multiply by 100.

Answer 10

0.00095

Answer 11

@iGreen. Amm.. i think he dont get it you just want him to calculate the answer :3 ..

Answer 12

Um, no multiply, not divide.

Answer 13

Sorry! 9.5

Answer 14

Yes, that's our answer. 9.5%

Answer 15

Oh thank you again!! :)

Answer 16

Actually, I think he does.

I = Prt

This is the formula to find Interest Rate.

We are given the Interest Rate, Principal, and time(in years).

So we plug in what we know and solve for 'r'.

Answer 17

I am a girl! :)

Answer 18

Aahhh Okey Sorry

Answer 19

Oh, sorry.

Answer 20

It's cool. Lol