A deposit of $11,000.00 was made to an account seven years ago. After seven years, the account had earned $3,465.00 in interest. What simple interest rate did the account earn?
Select the best answer from the choices provided.
4.5%
9%
12%
18%
A deposit of $11,000.00 was made to an account seven years ago. After seven years, the account had earned $3,465.00 in interest. What simple interest rate did the account earn?
Select the best answer from the choices provided.
4.5%
9%
12%
18%