Question

Can someone please help me

Answer 1

0.17*500*2=170
$170 is the annual interest rate.

Answer 2

Equation:

`r = ((1)/(t))((P+I)/(P) - 1)`
Calculation:

`r = (1)/(2)((517)/(500) - 1) = 0.017`

Solution: the annual simple interest rate is 1.7% per year.