1 year ago

If $500 yields $43.49 in simple interest over 7 years, what is the annual rate?

Mathematics

1 answer:

Annette [7]1 year ago

8 0

Answer:

1.24 %

Step-by-step explanation:

500 * x * 7 = 43.49

x = 43.49/(7*500) = .0124 1.24 %

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