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After 6 months the simple interest earned annually on an investment of $5000 was $907. Find the interest rate to the nearest tenth of a percent.

Respuesta :

hannah2940

Answer:

36.3%

Step-by-step explanation:

Solving our equation

r = 907 / ( 5000 × 0.5 ) = 0.3628

r = 0.3628

converting r decimal to a percentage

R = 0.3628 * 100 = 36.28%/year

The interest rate required to

accumulate simple interest of $ 907.00

from a principal of $ 5,000.00

over 0.5 years (6 months) is 36.28% per year.

Answer:

Step-by-step explanation:

R= 907 \5000 x 0.5 = 36.3%

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