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An investment of $500 earns $70 simple interest after 6 years. To the nearest tenth of a percent, what is the interest rate?

An investment of $500 earns $70 simple interest after 6 years. To the nearest tenth of a percent, what is the interest rate?
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An investment of $500 earns $70 simple interest after 6 years. To the

nearest tenth of a percent, what is the interest rate?

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User Ekhanna
by
7.7k points

1 Answer

4 votes

Answer:

Rate of interest is 2.3%

An investment of $500 earns $70 simple interest after 6 years. To the nearest tenth-example-1
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User Margalit
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