An investment of $1,800 in the stock market earned $378 in two years. Find the simple interest rate.

Question

asked Apr 28, 2021 157k views

1 Answer

GregP · Answer 1 · 2021-05-04T05:27:40+0000

Answer:

The simple interest formula is I =PrT

Here I = 378, P = 1800, T = 2

substitute

378 =1800*r*2

r = 378/3600 = .105, i.e. 10.5%

Explanation: