punky7oz81o2
punky7oz81o2 punky7oz81o2
  • 15-11-2017
  • Mathematics
contestada

A $7000 investment earns $840 annual simple interest in one year. What is the annual interest rate?

Respuesta :

kearnsal16 kearnsal16
  • 15-11-2017
The answer would be 12 % annual interest rate!
Hope i helped
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k393b
k393b k393b
  • 15-11-2017
The interest rate is the percentage of the investment made up by the interest. 

[tex] \frac{840}{7000} [/tex] = 0.12, or 12% percent.

Hope this helps!
Answer Link

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