Question

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

@shifuyanli

Answer 2

idk ask @jagr2713

Answer 3

@jagr2713

Answer 4

You still here @is3535

Answer 5

yea

Answer 6

You'll use the formula I = P*r*t where the interest earned is I = 1330, the amount invested is P = 7000 and the time is t = 2 years.

So,

I = P*r*t

1330 = 7000*r*2

then you solve for r

what do you get @is3535

Answer 7

i think it c

Answer 8

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 9

@sleepyjess

Answer 10

@winsteria

Answer 11

CoRRECT