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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 BlackSlash
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2 Answers

0 votes

Answer:

Mr. Gardener's annual interest rate is 8%.

40,000/500,000 = 0.08

answered
User Stjepan Bakrac
by
7.8k points
2 votes

Mr. Gardener's annual interest rate is 8%.

40,000/500,000 = 0.08

answered
User Dexto
by
8.3k points
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