Question

A $6000 investment earns $690 simple interest in two years. What is the annual interest rate?

A. 1.15%
B. 5.75%
C. 11.5%
D. 57.5%

I NEED HELP!!! DESPERATLY!!! OH PLEASE PLEASE PLEASE PLEASE PLEASE!!!! I WILL GIVE MEDAL IF SOMEONE HELP ME!!

Answer 1

@ribhu @ogjb_ @e.mccormick @TwiztTiez @chainedecho @TheEdwardsFamily @flasht @kathlyn98 @LeeEtchison @kathlyn98 @Jamielynne @ubiquitous @fallenangelorchid @chainedecho

Answer 2

@AdamK plz help

Answer 3

11.5%

Answer 4

may u plz explain how?

Answer 5

Please stop tagging me, I thought I said that I'm not very good at this type of problem.

Answer 6

wow, your good, almost too good

Answer 7

u did not

Answer 8

at least i did not see it

Answer 9

orry :(

Answer 10

sorry

Answer 11

Here, it's the rate that is unknown, so you solve for r:
I = Prt
r = I/Pt
= 690/(6000*1)
= 0.115
= 11.5%

Answer 12

Oh sorry I was thinking of another person--my bad XD

Answer 13

Hey it is B i have the same question on my test and it was B.