Question

Suppose Serena invests $2,500 for 3 years and 6 months and earns $328.13. What was the rate of interest as a percentage? Round your answer to the nearest hundredth of a percent. please somebody help me with this!

Answer 1

4.38% is rounded btw

Answer 2

Answer: 4.38%

Step-by-step: Assuming simple interest, we start by writing the formula for simple interest.