+0  
 
0
457
1
avatar

You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate?

 Apr 8, 2021
 #1
avatar+36916 
+1

9 months is 3/4 of a year      

 

3/4 * x * 400 = 18      x is th interst rate per year

18/300 = x = 0.06       6%  annual simple interest

 Apr 8, 2021

1 Online Users