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Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?

Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?
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5 votes
Mr. Gardener invested $500,000. His annual interest was $40,000. What was the annual interest rate?

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User Yavuz
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2 Answers

2 votes
The answer is 8% Hope this helps
answered
User EllisTheEllice
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4 votes
Divide 40,000 by 500,000 and you get 0.08 which is 8%

Hope this helps!
answered
User Kop
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