Question

Whats the annual intrest rate if the intrest is 16$ the payment 200$ and the time of 2 years

Answer 1

The answer is 4%

Explanation:

Substitute the values into the formula, I =Prt.

= Prt

16 = 200 × r × 2

16 = 400r

To find r, divide both sides of the equation by 400.

16 ÷400 = 400r ÷400

0.04 = r

r = 0.04

Now, r should be in %. So, let's convert 0.04 to percent.

= 0.04 × 100%

= 4%

Answer 2

the annual interest rate is 4%.

Explanation:

To determine the annual interest rate, we need to use the formula for simple interest:

I = P * r * t

where I is the interest earned, P is the principal amount (the amount borrowed or invested), r is the annual interest rate as a decimal, and t is the time period in years.

In this case, we are given that the interest earned is $16, the principal amount is $200, and the time period is 2 years. Plugging in these values and solving for r, we get:

16 = 200 * r * 2

16 = 400r

r = 16/400

r = 0.04 or 4%

Therefore, the annual interest rate is 4%.