rdennis88 rdennis88

26-04-2021
Mathematics

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

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mehrish2660 mehrish2660

26-04-2021

Answer:

0.06 or 6%

Step-by-step explanation:

I=Prt, so r= 1/(Pt)

T= 9 months/12 months=0.75

R=$18/($400*0.75)=0.06 or 6%

Note the * is times

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