punky7oz81o2 punky7oz81o2

15-11-2017
Mathematics

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A $7000 investment earns $840 annual simple interest in one year. What is the annual interest rate?

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kearnsal16 kearnsal16

15-11-2017

The answer would be 12 % annual interest rate!
Hope i helped

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15-11-2017

The interest rate is the percentage of the investment made up by the interest.

[tex] \frac{840}{7000} [/tex] = 0.12, or 12% percent.

Hope this helps!

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