Register

I have this question on my homework: You put $500 in a savings account. The account earns $15.75 simple interest in 6 months. What is the annual interest rate?

I have this question on my homework: You put $500 in a savings account. The account earns $15.75 simple interest in 6 months. What is the annual interest rate?
asked 171k views
2 votes
I have this question on my homework: You put $500 in a savings account. The account earns $15.75 simple interest in 6 months. What is the annual interest rate?

asked
User Bosen
by
8.5k points

1 Answer

4 votes
$31.50
I multiplied $15.75 times 2 because the $15.75 was over a span of 6 months which is half of 12
answered
User DuckQueen
by
8.8k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!