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Alice earned interest of $120 from an investment of $1000 for two years. What is the rate of simple interest per year

Alice earned interest of $120 from an investment of $1000 for two years. What is the rate of simple interest per year
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4 votes
Alice earned interest of $120 from an investment of $1000 for two years. What is the rate of simple interest per year

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User Odomontois
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2 Answers

2 votes
.06 is your interest rate per year
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User Burak Dede
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8.0k points
5 votes
it's 6% interest per year. 
answered
User Sslepian
by
8.0k points
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