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%
(medal)

Answer 1

@RhythmicTune can you help?

Answer 2

@rockstar0765 can you help

Answer 3

@urbanmorgans can you help

Answer 4

I = PRT --- (Interest = Principle * rate * time)

I = 1330
P = 7000
T = 2
R is unknown

Now we sub
1330 = (7000)(R)(2)
1330 = 14000R
1330/14000 = R
0.095 = R -- turn to a percent
9.50 % = R

Answer 5

so C

Answer 6

is he/she right because i think its D