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

A $7000 investment earns $840 annual simple interest in one year. what is the annual interest rate
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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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User Daantje
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The interest rate is the percentage of the investment made up by the interest.
840/7000=0.12, or 12 percent.
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User Thornomad
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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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