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Put $1000 in an account the account earns $100 simple interest in four years what is the annual interest rate

Put $1000 in an account the account earns $100 simple interest in four years what is the annual interest rate
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put $1000 in an account the account earns $100 simple interest in four years what is the annual interest rate

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User Hung Quach
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1 Answer

2 votes
You need to divide 100/4= 25, multiply 25 x 100= 2500, divide 2500/1000= 2.5%
Answer: 2.5%
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User Arel Lin
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