Question

Item 9 You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate? The annual interest rate is %.

Answer 1

0.06 or 6%

Step-by-step explanation:

I=Prt, so r= 1/(Pt)

T= 9 months/12 months=0.75

R=$18/($400*0.75)=0.06 or 6%

Note the * is times