Idonthaveagoodname Idonthaveagoodname

04-02-2016
Mathematics

Answered

I have this question on my homework: You put $500 in a savings account. The account earns $15.75 simple interest in 6 months. What is the annual interest rate?

Verified Answer :

Gemmeg10 Gemmeg10

04-02-2016

$31.50
I multiplied $15.75 times 2 because the $15.75 was over a span of 6 months which is half of 12

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