nevaehchildress2009 nevaehchildress2009

24-02-2022
Mathematics

contestada

Joannie lent $200 to her sister 4 years later her sister repaid her in full with $228 what simple interest rate did joannies sister pay

Respuesta :

24-02-2022

Answer:

3.5%

Step-by-step explanation:

Joannie got $228-$200 = $28 extra profit.

So, every year she got $28 : 4 = $7

7 : 200 = 0.035, so she got a 3.5% interest rate annually.

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