beautyLamdatb beautyLamdatb

15-05-2016
Mathematics

Answered

A $6000 investment earns $690 simple interest in two years. What is the annual interest rate?

A.

1.15%

B.

5.75%

C.

11.5%

D.

57.5%

Verified Answer :

17-05-2016

2 years simple interest is $690
1 year simple interest is $690/2 = $345

$6000 simple interest is $345
$1000 simple interest is $345/6 = $57.5
$100 simple interest is $57.5/10 = $5.75

Annual interest rate is 5.75%

Answer Link

Related Questions

Which best explains why protecting public health is an important duty of state government

Recommendations from MyPlate include having of your grains as whole grains A 12 B 13 C 23 D 14

A ball rolls off the edge of a horizontal roof at 10 ms 2 seconds later the speed of the ball will be a 10 ms b 196ms c 296 ms d22 ms

What was one of Thurgood Marshalls major achievements organizing the Montgomery bus boycott founding the National Association for the Advancement of Colored Peo

The best tool to use to locate the boundaries between countries is an interrupted area map political map population map relief map

All of the following refer to the same religious order except a Holy Inquisition c Defenders of Faith b Society of Jesus d Jesuits

If the width of something is 5m and the perimeter is 22m what is the length and area

How many terms of GP 3 3 3 are needed to give the sum 120 Show Your Work 90 Points Please Help

Christy drove 300 miles on her vacation She drove an average of 125 times faster on the second 150 miles of her trip Which expression represents the time she sp

O Captain my Captain a line addressing the assassinated President Lincoln is an example of apostrophe metonymy metaphor simile

Web Analytics Made Easy - Statcounter