Kim has $8500 invested in bonds that pay $46.05 a month. What is the interest rate?
+118723 $${\mathtt{46.05}}{\mathtt{\,\times\,}}{\mathtt{12}} = {\frac{{\mathtt{2\,763}}}{{\mathtt{5}}}} = {\mathtt{552.6}}$$
$${\frac{{\mathtt{552.6}}}{{\mathtt{8\,500}}}}{\mathtt{\,\times\,}}{\mathtt{100}} = {\frac{{\mathtt{2\,763}}}{{\mathtt{425}}}} = {\mathtt{6.501\: \!176\: \!470\: \!588\: \!235\: \!3}}$$
6.5%
+118723 $${\mathtt{46.05}}{\mathtt{\,\times\,}}{\mathtt{12}} = {\frac{{\mathtt{2\,763}}}{{\mathtt{5}}}} = {\mathtt{552.6}}$$
$${\frac{{\mathtt{552.6}}}{{\mathtt{8\,500}}}}{\mathtt{\,\times\,}}{\mathtt{100}} = {\frac{{\mathtt{2\,763}}}{{\mathtt{425}}}} = {\mathtt{6.501\: \!176\: \!470\: \!588\: \!235\: \!3}}$$
6.5%
